Deputy Commissioner of Income Tax vs Sovereign Pharma Pvt Ltd, ITAT Pune

Can the AO open re-assessment on the basis of facts and documents which are already available?

Case: Deputy Commissioner of Income Tax vs Sovereign Pharma Pvt Ltd, ITAT Pune Listen to the case summary Deputy Commissioner of Income Tax vs Sovereign Pharma Pvt Ltd, ITAT Pune here Background: The Assessing Officer (AO) reopened the assessment four years from the end of the relevant assessment year and issued the notice under u/s … Continue reading Can the AO open re-assessment on the basis of facts and documents which are already available?

Condonation of delay: 6 excuses and responses

Condonation of Delay: 6 Cases with Reason and Treatment

While the Indian justice system is infamous for its apathy, lack of urgency and efficiency, the Courts are not always to blame. Here are six cases where there was an inordinate delay in filing the appeal and the reasons given by the court in allowing or rejecting the condonation. One of the cases has a … Continue reading Condonation of Delay: 6 Cases with Reason and Treatment

Urmila Devi Charitable Trust New Delhi vs CIT(E) Lucknow

Can registration of Trust be retrospectively Cancelled?

Case: Urmila Devi Charitable Trust vs. CIT, Delhi ITAT Background: The registration of Urmila Devi Charitable trust under Section 12AA was cancelled, nullifying the tax exemptions which it had been getting for the past 6 years. CIT alleged that the assessee received a donation of Rs. 85 lakhs in cash, on its basis, the CIT … Continue reading Can registration of Trust be retrospectively Cancelled?

DCIT vs Bhaijee Portfolio Pvt. Ltd.

Reassessment proceedings without approval is illegal

In the case of DCIT vs Bhaijee Portfolio Pvt. Ltd. the Income Tax Appellate Tribunal’s Delhi bench has held that the re-opening of an assessment without the approval of designated authority is not allowable under Income Tax Act. Revenue’s Arguments: The re-assessment proceeding was initiated by the Assessing Officer against the Assessee by recording reasons … Continue reading Reassessment proceedings without approval is illegal