Tag Archives: Income tax Officer

Enhanced Leave Encashment Exemption Limit of Rs. 25 Lakh Applies Retroactively to Non-Government Employees.

By | August 31, 2026
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Enhanced Leave Encashment Exemption Limit of Rs. 25 Lakh Applies Retroactively to Non-Government Employees. Issue Whether the enhanced leave encashment exemption ceiling of Rs. 25,00,000 under Section 10(10AA) introduced vide Notification No. 31/2023 applies to a non-government employee who retired during AY 2021-22 prior to the notification date. Facts Retirement & Receipt: The assessee, a… Read More »

Reimbursement claims for conveyance, LTA, and cash rent payment additions were remanded for proper verification and enquiry.

By | August 31, 2026
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Reimbursement claims for conveyance, LTA, and cash rent payment additions were remanded for proper verification and enquiry. Issue Whether the disallowance of claimed conveyance and food allowance reimbursements should be remanded to the Assessing Officer for verification of fuel and telephone expenses incurred by the assessee and reimbursed by the employer. Whether the disallowance of… Read More »

Set-off of Income-tax Refunds Against Extinguished Pre-CIRP Dues Post-Resolution Plan Approval Is Legally Unsustainable

By | August 29, 2026
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Set-off of Income-tax Refunds Against Extinguished Pre-CIRP Dues Post-Resolution Plan Approval Is Legally Unsustainable Set-off of Income-tax Refunds Against Extinguished Pre-CIRP Dues Post-Resolution Plan Approval Is Legally Unsustainable Issue Whether the Income-tax Department can adjust valid tax refunds for AYs 2018-19 to 2023-24 under Section 245 against outstanding tax dues that were waived and extinguished… Read More »

Reassessment Notices Issued On or After 1-4-2021 for AY 2015-16 Beyond TOLA Outer Limit Are Void

By | August 29, 2026
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Reassessment Notices Issued On or After 1-4-2021 for AY 2015-16 Beyond TOLA Outer Limit Are Void Reassessment Notices Issued On or After 1-4-2021 for AY 2015-16 Beyond TOLA Outer Limit Are Void Issue Whether notices issued under section 148 and section 148A of the Income-tax Act, 1961 on or after 1-4-2021 for Assessment Year 2015-16,… Read More »

Issuance of Section 148 Notice by Local AO Lacks Jurisdiction in View of CBDT Notification Mandating NFAC

By | August 29, 2026
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Issuance of Section 148 Notice by Local AO Lacks Jurisdiction in View of CBDT Notification Mandating NFAC Issue Whether a notice issued under section 148 of the Income-tax Act, 1961 by a local Assessing Officer (AO) is legally sustainable when exclusive power to issue such notices was conferred upon the National Faceless Assessment Centre (NFAC)… Read More »

Addition for Alleged Understated Export Sales Deleted as Net Realizations and Prior-Year Invoices Fully Reconciled

By | August 29, 2026
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Addition for Alleged Understated Export Sales Deleted as Net Realizations and Prior-Year Invoices Fully Reconciled Addition for Alleged Understated Export Sales Deleted as Net Realizations and Prior-Year Invoices Fully Reconciled Issue Whether the CIT(A) was justified in deleting the addition of ₹4.59 crores made by the Assessing Officer on account of alleged undisclosed or understated… Read More »

Retrospective Application of Enhanced Exemption Limit of Rs. 25 Lakhs Under Section 10(10AA)(ii) Allowed for Leave Encashment

By | August 28, 2026
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Retrospective Application of Enhanced Exemption Limit of Rs. 25 Lakhs Under Section 10(10AA)(ii) Allowed for Leave Encashment Retrospective Application of Enhanced Exemption Limit of Rs. 25 Lakhs Under Section 10(10AA)(ii) Allowed for Leave Encashment Issue Whether the enhanced leave encashment exemption limit of Rs. 25,00,000 introduced via CBDT Notification No. 31/2023 applies retrospectively to Assessment… Read More »

Co-operative Banks Are Exempt From TDS Under Section 194A(3)(v) On Interest Paid To Non-Member Co-operative Societies

By | August 27, 2026
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Co-operative Banks Are Exempt From TDS Under Section 194A(3)(v) On Interest Paid To Non-Member Co-operative Societies Issue Whether a co-operative bank paying interest on fixed deposits to non-member co-operative societies is entitled to exemption from deducting tax at source (TDS) under Section 194A(3)(v). Whether the co-operative bank can be treated as an “assessee-in-default” under Section… Read More »

Failure to decide reopening objections by speaking order invalidates reassessment but warrants remand, not quashing.

By | August 27, 2026
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Failure to decide reopening objections by speaking order invalidates reassessment but warrants remand, not quashing. Issue Whether the Assessing Officer’s failure to dispose of the assessee’s objections against a Section 148 reopening notice by a separate speaking order before completing the reassessment renders the entire reassessment proceeding a complete nullity liable to be quashed, or… Read More »

Reopening assessment on interest from co-operative banks constitutes impermissible change of opinion and is unsustainable.

By | August 27, 2026
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Reopening assessment on interest from co-operative banks constitutes impermissible change of opinion and is unsustainable. Issue Whether reopening an assessment under Section 148 based on the same material examined during scrutiny to disallow Section 80P(2)(d) deduction constitutes an invalid change of opinion. Whether interest income earned by a co-operative society from investments in co-operative banks… Read More »