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Appeal against Section 263 Revision Dismissed as Infructuous After Complete Relief in Consequential Assessment: Amar Partap Steels Pvt. Ltd. vs. PCIT-2, Jaipur (ITAT)
Facts of the
CaseThe assessee, Amar Partap Steels Private Limited,
filed an appeal before the Income Tax Appellate Tribunal against the
revisionary order passed by the Principal Commissioner of Income Tax-2, Jaipur
u...
Application for Registration under Section 12A Restored Where Rejection Was Based on Non-Compliance and Subsequent Registration under RPT Act: Neem Ka Thana Education Society vs. CIT (Exemption) (ITAT Jaipur)
Facts of the CaseThe assessee, Neem Ka Thana Education Society, filed an application
under Section 12A(1)(ac)(iv)(B) in Form No. 10AB seeking registration as a
charitable institution. The application was rejected by th...
Agricultural Income Disallowance Remanded for Fresh Verification Where Evidence Was Not Placed on Record: Deepak Vegpro (P) Ltd. vs. DCIT (ITAT Jaipur)
Facts of the CaseThe assessee, Deepak Vegpro (P) Ltd., filed its return of income for
Assessment Year 2022-23 claiming exemption of agricultural income amounting to
₹98,460. The claim was based on the contention that...
Inordinate Delay of 476 Days Condoned and Full Exemption of Leave Encashment Allowed up to ₹25 Lakhs under Section 10(10AA): Ram Dev Daiya vs. ITO (ITAT Jaipur)
Facts of the
CaseThe assessee, a senior citizen and retired employee
of Life Insurance Corporation of India, filed his return of income for
Assessment Year 2020-21 claiming exemption of ₹13,12,806 on account of leav...
Reassessment under Section 147 Quashed for Non-Issuance of Mandatory Notice under Section 143(2); Entire Assessment Declared Null and Void: ITAT Agra in Prem Lata Verma vs. DCIT
INCOME TAX
APPELLATE TRIBUNAL-AGRAITA No.
441/Agr/2025
Prem
Lata Verma-Appellant.VersusDeputy
Commissioner of Income Tax-Respondent
Coram: S.
RIFAUR RAHMAN, ACCOUNTANT MEMBERANDSUNIL KUMAR SIN...
Ex Parte CIT(A) Order and Reassessment under Section 147 Set Aside for Violation of Natural Justice; Matter Remanded for Fresh Adjudication: ITAT Rajkot in Ila Jignesh Kumar Vakharia vs. ITO
INCOME
TAX APPELLATE TRIBUNAL-RAJKOTITA
No.600/RJT/2025 Ila
Jignesh Kumar Vakharia-Appellant.VersusIncome
Tax Officer-Respondent
Coram: ARJUN
LAL SAINI, ACCOUNTANT MEMBER, J.Dated:
15/01/2026Decision:&...
Audit Reports in SAFA Countries: Comparative Analysis of “True and Fair View” versus “True and Correct View”, Auditor Responsibility, Judicial Interpretation and Reporting Entities in South Asia
1. INTRODUCTION
“An audit report may consist of a few paragraphs, but each word is capable of
being tested in a court of law.” This statement captures the enduring tension
between brevity and consequence in audit ...
Cyber Crime : An emerging Challenge to Indian Banking Industry
Cyber Crime
: An emerging Challenge to Indian Banking IndustryIncreased
use of e-products :- On the recommendation of the
Committee on Financial System (Narasimham Committee) 1991-1998 when
founding stones of i...
How to Qualify an Audit Report: Requirements, Reasons, Impact and Comprehensive Illustrations
How to Qualify an Audit Report: Requirements, Reasons,
Impact and Comprehensive Illustrations
Introduction
An auditor’s report culminates months of planning, risk assessment, evidence
gathering and evaluation. It...
Audit Reports Around the World: A Professional Comparative Analysis of Wording, Structure, and Regulatory Nuances
Audit Reports Around the World: A
Professional Comparative Analysis of Wording, Structure, and Regulatory NuancesA practitioner’s guide for
qualified Chartered AccountantsExecutive SummaryThis article presents a comp...