Section 144

Types of Assessment under Income Tax Act, 1961

Income Tax - Article Discusses Assessment under Section 143(1)-Scrutiny Assessment, Section 144- Best Judgement Assessment and Section 147- Income Escaping Assessment of Income Tax Act, 1961....

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Cascading Effects of Assessment U/S 144 for Partnership Firm

Income Tax - Assessment under section 144 popularly known as best judgment assessment is an assessment carried out as per the best judgment of the Assessing Officer. Best judgment assessment can only be made at the instance of certain failures as specified under section 144​ on the part of the taxpayer. ...

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A collective understanding of Assessment Procedures

Income Tax - Self Assessment u/s 140A: This simply means that the person is calculating his own tax liability and thereafter filing ITR after payment of self calculated tax. Since assessee himself calculates the tax and income, it is called as self assessment....

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Rejection of Books of Accounts is Pre-Requisite As Per Section 145(3) For Making an Assessment Under Section 144

CIT vs. Pashupati Nath Agro Food Products Pvt. Ltd (Allahbad High Court) - Under section 145 of the Act, rejection of books of accounts is pre-requisite, where books of accounts have been maintained by the assessee, for making additions by the AO on account of estimation of profit....

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Assessment of holding company with notice to subsidiary is invalid

Techpac Holdings Ltd. Vs DCIT (Bombay High Court) - High Court held that as the issue of service of notices under sections 148, 142(1) and 143(2) are concerned, it is an admitted position that the said notices were never served on the Petitioner. The Revenue seeks to justify service of these notices on the Petitioner by contending that they have ser...

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Assessment U/s. 143(3) despite non compliance of Notices is valid: HC

Subhash Chander Vs CIT (Punjab & Haryana High Court) - Punjab & Haryana High Court held In the case of Subhash Chander vs. CIT that it is open for the AO to complete assessment either u/s 144 or u/s 143(3), in case compliance of notice has not been done by the assessee....

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Section 124(3) stipulates a bar to any contention about lack of jurisdiction of an AO

CIT Vs Shri Shyam Sunder Infrastructure Pvt. Ltd. (Delhi High Court) - It is provided in section 124 (3) that no person shall entitled to call in question the jurisdiction of AO after the expiry of the time allowed by the notice under section 148 for the making of the return or by the notice under the first proviso to section 144 to show cause ...

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Recent Posts in "Section 144"

Rejection of Books of Accounts is Pre-Requisite As Per Section 145(3) For Making an Assessment Under Section 144

CIT vs. Pashupati Nath Agro Food Products Pvt. Ltd (Allahbad High Court)

Under section 145 of the Act, rejection of books of accounts is pre-requisite, where books of accounts have been maintained by the assessee, for making additions by the AO on account of estimation of profit....

Read More

Types of Assessment under Income Tax Act, 1961

Article Discusses Assessment under Section 143(1)-Scrutiny Assessment, Section 144- Best Judgement Assessment and Section 147- Income Escaping Assessment of Income Tax Act, 1961....

Read More
Posted Under: Income Tax |

Assessment of holding company with notice to subsidiary is invalid

Techpac Holdings Ltd. Vs DCIT (Bombay High Court)

High Court held that as the issue of service of notices under sections 148, 142(1) and 143(2) are concerned, it is an admitted position that the said notices were never served on the Petitioner. The Revenue seeks to justify service of these notices on the Petitioner by contending that they have served the said notices on the last known a...

Read More

Cascading Effects of Assessment U/S 144 for Partnership Firm

Assessment under section 144 popularly known as best judgment assessment is an assessment carried out as per the best judgment of the Assessing Officer. Best judgment assessment can only be made at the instance of certain failures as specified under section 144​ on the part of the taxpayer. ...

Read More
Posted Under: Income Tax |

Assessment U/s. 143(3) despite non compliance of Notices is valid: HC

Subhash Chander Vs CIT (Punjab & Haryana High Court)

Punjab & Haryana High Court held In the case of Subhash Chander vs. CIT that it is open for the AO to complete assessment either u/s 144 or u/s 143(3), in case compliance of notice has not been done by the assessee....

Read More

A collective understanding of Assessment Procedures

Self Assessment u/s 140A: This simply means that the person is calculating his own tax liability and thereafter filing ITR after payment of self calculated tax. Since assessee himself calculates the tax and income, it is called as self assessment....

Read More
Posted Under: Income Tax |

Section 124(3) stipulates a bar to any contention about lack of jurisdiction of an AO

CIT Vs Shri Shyam Sunder Infrastructure Pvt. Ltd. (Delhi High Court)

It is provided in section 124 (3) that no person shall entitled to call in question the jurisdiction of AO after the expiry of the time allowed by the notice under section 148 for the making of the return or by the notice under the first proviso to section 144 to show cause ...

Read More

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