Supreme Court sets aside reassessment orders in Mangalam Publications case LEGAL ISSUE: Whether reassessment under Section 147 of the Income Tax Act, 1961 is valid when the original assessment was completed under Section 143(3) and the reassessment is based on a change of opinion. CASE TYPE: Income Tax Case Name: M/s Mangalam Publications, Kottayam vs. […]
Supreme Court Clarifies Income Tax Refund Processing When Scrutiny Notice Issued LEGAL ISSUE: Whether the Income Tax Department is obligated to process a tax refund under Section 143(1) of the Income Tax Act, 1961, when a scrutiny notice has been issued under Section 143(2) of the same Act. CASE TYPE: Income Tax Case Name: Vodafone
Supreme Court on Cash Credits under Section 68 of Income Tax Act: Basir Ahmed Sisodiya vs. ITO (2020) Date of the Judgment: 24 April 2020 Citation: Basir Ahmed Sisodiya v. The Income Tax Officer, Civil Appeal No. 6110 of 2009 Judges: A.M. Khanwilkar, J. and Dinesh Maheshwari, J. Can an assessing officer add ‘cash credits’
Supreme Court clarifies the applicability of Section 143(1-A) of the Income Tax Act in cases of bonafide errors: Rajasthan State Electricity Board vs. Deputy Commissioner of Income Tax (2020) Date of the Judgment: March 19, 2020 Citation: (2020) INSC 253 Judges: Ashok Bhushan, J., Mohan M. Shantanagoudar, J. (authored by Ashok Bhushan, J.) Can a
