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Archive: 23 October 2014

Posts in 23 October 2014

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7170 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Cash seized during search cannot be adjusted against advance-tax liability

October 23, 2014 1079 Views 0 comment Print

As per provisions of section 132B of the Act the assets seized u/s 132 or requisitioned u/s 132A may be adjusted towards the amount of any “existing liability”. The Explanation 2 attach to section 132B of the Act clarifies that for removal of doubts it is hereby declared that the “existing liability”

AO can issue notice u/s 148 despite non expiry of time limit for issuing notice u/s 143(2)

October 23, 2014 3041 Views 0 comment Print

condition precedent for proceeding under section 147/148 of the Act was that the Assessing Officer should have reason to believe that income had escaped assessment. The Hon’ble jurisdictional High Court further held, The notice under section 147/148 issued to the petitioner was not vitiated merely for the reason that notice under section 143(2) had not been issued to it.

Refund cannot be denied for failure of Tax Department

October 23, 2014 2279 Views 0 comment Print

There is no dispute about the fact that the order of penalty at annexure A dated 12.3.2010 was made against the petitioner on the basis of the assessment of income of the petitioner done by the assessing officer under section 143(3) of the Act.

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