Income Tax : Apropos, the move to retracts retrospective taxation by the Indian government by Taxation Laws (Amendment) Bill, 2021 is undoubted...
Income Tax : 1. Perface The Finance Act, 2021 with effect from 01st April, 2021 completely overhauled, renovated and re-regulated the provision...
Income Tax : The word `Subsidy’ is a word of pivotal importance and finds a mention in the American Heritage Dictionary of the English Langua...
Income Tax : 1. Introduction Section 148 of the Income Tax Act, 1961 is a complete code in respect of the powers conferred with the jurisdictio...
Income Tax : Advocate Sameer Bhatia Introduction The Union Budget, 2019 catering to both direct and indirect tax avenues will be tabled before ...
The locution `Enquiry’ is a term of wide and capacious connotation signifying and inherently carrying with it the burden to enquire, probe, delve, scrutinize, escalate and to congregate such vital and salient information as might be required to entrust and endow the charm of stepping into the shoes of scrutiny proceedings carried in due reference to the stipulations provided for by the Income Tax Act, 1961.
Service of notice, summon, intimation, requisition or order (by whatever name called) marks the very foundation and pedestal for the inception of any proceedings of whatever nature and by whatever name called and designated as the pinnacle and ace caveat for steeping into the shoes of legality.
The provisions concerning the recuperative and the penal statutes are always to be construed strictly and stringently as per the profuse principles of interpretative jurisprudence available and codified into analogous legislative spheres. In what can be called as a formal invitation to invoke the jurisdiction of the adjudicating and arbitrating authority
Section 147 is clothed with a predominant and potential ascendancy of reopening the assessments framed under the statutory charter of Income Tax Act, 1961 accompanied by getting the assessments already framed into the clutch of the Department by making specific dominant references to the expressions `assess’, `reassess’ or `recompute’, all expressions of widest amplitude and magnitude.
