Income Tax – Page 7 – smeaccountant

ITAT Ruling Strengthens Taxpayer Defense Against Section 68 Additions

The Income Tax Appellate Tribunal (ITAT) recently ruled in favor of an assessee, deleting a contentious addition under Section 68 of the Income Tax Act after determining that a mere…

Prasenjit Bhowmik May 30, 2026

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ITAT Invalidates Reassessment Notices Issued Without Proper Statutory Sanction

ITAT rules reassessment notices issued after 3 years without proper PCCIT/CCIT sanction are invalid, impacting tax proceedings.

Prasenjit Bhowmik May 30, 2026

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ITAT Rules Against Reassessment Procedures in Landmark Tax Compliance Case

The Income Tax Appellate Tribunal (ITAT) recently issued a landmark ruling, invalidating a tax reassessment notice issued under Section 148 of the Income Tax Act. The tribunal determined that when…

Prasenjit Bhowmik May 30, 2026

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Tribunal Invalidates Reassessment Proceedings Due to Procedural Misapplication of Income Tax Sections

Jurisdictional Errors in Tax AssessmentsIn a significant ruling for taxpayers, the Income Tax Appellate Tribunal (ITAT) recently declared a reassessment proceeding void, determining that the Assessing Officer (AO) incorrectly invoked…

Prasenjit Bhowmik May 30, 2026

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ITAT Rules Against Unilateral Disallowance of Section 80P Deductions by CPC

The Income Tax Appellate Tribunal (ITAT) has issued a significant ruling prohibiting the Central Processing Centre (CPC) from unilaterally disallowing tax deductions claimed under Section 80P of the Income Tax…

Prasenjit Bhowmik May 30, 2026

Blog

ITAT Dismisses Appeal as Infructuous Following Successful Section 80P Rectification

The Income Tax Appellate Tribunal (ITAT) officially dismissed an outstanding appeal this week, declaring the matter infructuous after a successful rectification order under Section 154 of the Income Tax Act…

Prasenjit Bhowmik May 30, 2026