Home Highlights March 2018 Year 2018 This

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1. The appeals pertain to assessments for the years 2015-16, 2016-17, and 2017-18. This case involves multiple legal and factual issues related to income tax assessments...

2. Assessment proceedings against one of the legal heirs - deceased/assessee had admittedly more than one legal representatives - Despite the legal heir's explicit...

3. Misuse of PAN - Rival group has been using the same Permanent Account Number (PAN) - Under the Income Tax Act, 1961 only one Permanent Account Number is issued to an...

4. Reassessment u/s 148 - time limit for notice - change of opinion - case on hand is one that of the mixed question of law and facts - AO is empowered to consider the...

5. Adjustment made by the CPC (Centralized Processing Centre) u/sec. 143(1) - CPC did not allow set off of brought forward losses against the short term capital gain and...

6. Legal principles regarding raising new grounds in an appeal before tax authorities, and the treatment of interest income earned on compulsory deposits of share...

7. Validity of Notice issued u/s 143(2) - Defective return - Removal of defect beyond 15 days u/s 139(9) - AO should have treated the return as non-est when the assessee...

8. Scope of order of the tribunal - The Tribunal has failed to record any reasons with respect to seven out of eight questions raised in the reference applications. It is...

9. Deduction of compensation cost of ESOP on account of Employee Stock Option Scheme (ESOP) - , an adjustment to the income is called for at the time of exercise of option...

10. Time of supply - continuous supply of services - renting of immovable properties - If the rent invoice is issued before the due date of payment, the Time of supply is...

11. The High Court addressed the issue of Transitional Input Tax Credit time limitation, ruling that availing credit beyond thirty days is inadmissible, leading to tax...

12. Validity of reopening of assessment u/s 147 - if the appellant is to be relegated to pursue the appellate remedy, all such findings needs to be vacated, otherwise it...

13. Addition u/s 40(b) - interest payment to partners - in the computation of income the interest of partner is added and deducted and thus, the effect while preparing the...

14. Reopening of assessment u/s 147 - Denial of natural justice - the intricacies involved in the issues require an elaborate adjudication and admittedly, the petitioner is...

15. Reopening of assessment u/s 147 - barred by limitation - in view of express language of 1st proviso to Section 149(1), legislative mandate required that no notice could...