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Section 147

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ITAT Limits Tax Authority Powers: Reassessments Require Independent Verification
Posted inBlog

ITAT Limits Tax Authority Powers: Reassessments Require Independent Verification

The Ruling and Its SignificanceThe Income Tax Appellate Tribunal (ITAT) recently issued a landmark ruling in a case involving Section 147 of the Income Tax Act, explicitly prohibiting tax authorities…
Posted by Prasenjit Bhowmik June 8, 2026
Borrowed Satisfaction: ITAT Quashes Penny Stock Additions in Multiple Family Cases
Posted inBlog

Borrowed Satisfaction: ITAT Quashes Penny Stock Additions in Multiple Family Cases

The Income Tax Appellate Tribunal (ITAT) Delhi has issued a landmark ruling, invalidating reassessment proceedings initiated against several family members involved in alleged penny stock transactions. The tribunal determined that…
Posted by Prasenjit Bhowmik June 7, 2026
Tribunal Invalidates Reassessment Proceedings Due to Procedural Misapplication of Income Tax Sections
Posted inBlog

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…
Posted by Prasenjit Bhowmik May 30, 2026

Recent Posts

  • ITAT Limits Tax Authority Powers: Reassessments Require Independent Verification
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  • CESTAT Ruling Strengthens CENVAT Credit Eligibility Based on Service Nexus
  • NCLAT Finalizes Resolution Plan Stance, Dismissing GNIDA Appeal

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