Search Results for "Income Tax Act"

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High Court Quashes Income Tax Assessment Order for Violation of Natural Justice and Mandatory Procedures under Section 144B of the Income Tax Act, 1961. Court Emphasizes Adherence to Faceless Assessment Procedures and Audi Alteram Partem Principle in Tax Reassessment Cases

Reassessment Beyond 4 Years: Reassessment under Section 147 of the IT Act cannot be initiated beyond the 4-year period unless there is evidence of fai...

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Income Tax Act, 1961 — Section 260A — Bombay High Court Dismissed Appeals by Refrigerated Distributors Pvt Ltd Challenging Additions on Bogus Purchases — No Substantial Question of Law Involved

Assessment Years 2007-08 to 2012-13 — Appellant Assessee Failed to Prove Purchases — Tribunal’s Reduction of Addition from 25% to 10% of Gross P...

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Bombay High Court held that the entire amount of unverified purchases should be disallowed under Section 69C of the Income Tax Act, 1961, rejecting partial disallowance made by appellate authorities.

Income Tax Act, 1961 – Section 69C – Bogus Purchases – Profit Rate Determination – Full Disallowance – Validity of Tribunal’s Decision ...