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CBDT Notifies ITR-B for Search-Related Income Tax Returns: A Step Toward Streamlined Block Assessments
The CBDT has notified Form ITR-B as a new income tax return form specifically for block assessments arising from search and seizure actions. Effective retrospectively from 01.09.2024, the new r. 12AE introduces procedural clarity, a digital filing framework, and enables stricter scrutiny of undisclosed income and tax credit claims. This marks a key shift toward structured compliance in high-stakes search proceedings under ch. XIV-B.
Apr 144 min read
Section 153C Validly Invoked on Basis of WhatsApp Chats Corroborated by Evidence: Rajasthan High Court
Rajasthan High Court upholds Section 153C action based on WhatsApp chats corroborated by digital records and cash book evidence.
Mar 204 min read
From the Finance Act, 2021 to the Decisions in Ashish Agarwal & Rajeev Bansal: Delhi HC Clarifies Key Aspects of Reassessment under the Income-tax Act
The Delhi High Court clarifies reassessment timelines, approvals, and JAO powers under the faceless regime post Finance Act, 2021.
Feb 276 min read
ITAT Quashes Reassessment Notice for Lack of Fresh Tangible Material and Independent Inquiry
In Minal Shroff v. ITO, the ITAT quashed a reassessment under Section 147 for relying solely on third-party alerts, without any fresh inquiry or tangible material. This case reaffirms critical safeguards for taxpayers and clarifies that the ‘reason to believe’ must be the AO’s own, not borrowed.
Jan 276 min read