Income Tax : Understand the statutory time limits for issuing income-tax notices and completing assessments under the Income-tax Act. The guide...
Income Tax : This article explains why reassessment proceedings may be invalid if the Assessing Officer merely relies on Investigation Wing rep...
Income Tax : The Income Tax Act, 2025 replaces old reassessment provisions with Sections 279 to 286 and increases reopening timelines in certai...
Income Tax : Explains how routine approvals under Section 151 can nullify reassessment proceedings. The key takeaway is that lack of applicatio...
Income Tax : The ITAT held that reassessment cannot run parallel to ongoing scrutiny proceedings. Such action was declared without jurisdiction...
Income Tax : Discover how Finance Act 2021 revamped assessment and reassessment procedures under Income-tax Act, impacting notices, time limits...
Income Tax : Humble Representation for modification of Section 151 of the Income Tax Act relating to Sanction for issue of Notice under sec. 14...
Income Tax : Income Tax Gazetted Officers’ Association requested CBDT to issue Clarification in respect of the judgement of Hon’ble Supreme...
Income Tax : In view of Indiscriminate notices by income Tax Department without allowing reasonable time it is requested to Finance Ministry an...
Income Tax : Lucknow CA Tax Practicioners Association has made a Representation to FM for Extension of Time Limit for Assessment cases time bar...
Income Tax : Bombay HC upheld ITAT's order, holding reassessment under Section 148 unsustainable as full reasons were not supplied and relied o...
Income Tax : The Bombay High Court held that reassessment proceedings for AY 2018-19 were invalid because the sanction was granted by the PCIT ...
Income Tax : The ITAT held that reassessment notices issued after the surviving limitation period prescribed by the Supreme Court were invalid....
Income Tax : The Gujarat High Court held that reassessment cannot be sustained merely because of high-value bank transactions without evidence ...
Income Tax : ITAT Pune held that reassessment proceedings were invalid because the approval under Section 151 was granted by the Principal Comm...
Income Tax : The department has identified high-risk cases through its Insight Portal for AYs 2022-25. It directs officers to initiate reassess...
Income Tax : Supreme Court in the matter of Shri Ashish Agarwal, several representations were received asking for time-barring date of such cas...
Corporate Law : Income Tax Gazetted Officers’ Association (W.B.) Unit Date: 02.02.2023. To The Principal Chief Commissioner of Income Tax, W...
Income Tax : CBDT directed that cases reopened u/s 147/148A in consonance with Judgement of SC in case of UoI vs. Ashish Agarwal & CBDT instruc...
Income Tax : Consequent to order passed by Allahabad High Court passing severe strictures and proposing to levy exemplary cost of Rs 50 lakhs i...
The Bombay High Court held that reassessment proceedings are invalid when notices are issued in the name of an entity that had ceased to exist, rendering the entire assessment void.
Saluja Steel and Power Pvt. Ltd Vs ACIT (ITAT Ranchi) The ITAT Ranchi quashed the reassessment for AY 2013–14, holding that the reasons recorded for reopening were fundamentally flawed and factually incorrect. The assessee’s original assessment had been completed under section 143(3) after detailed scrutiny of share application money and share premium, including issuance of […]
The Tribunal held that reopening completed scrutiny assessments beyond four years is invalid when reasons do not allege failure to disclose material facts. The key takeaway is that Section 147’s first proviso is mandatory and cannot be bypassed.
The tribunal held that the reassessment notice issued by relying on COVID-era extensions was invalid due to procedural lapses. As a result, the entire reassessment and addition were set aside.
The Court held that reassessment is not barred by change of opinion where the original issue was dropped due to absence of evidence. Subsequent reopening based on new material was found legally sustainable.
The Tribunal ruled that reassessment actions taken by the faceless assessment centre before the notified date were without authority. The final assessment order was therefore held invalid.
The High Court held that notices issued under Section 148 by a jurisdictional Assessing Officer were without authority when the faceless assessment scheme applied. Relying on binding precedents, the writ petition was disposed of in favour of the taxpayer, reaffirming NFAC’s exclusive role.
The court held that an excel sheet found during a search, indicating a cash transaction, constituted valid information to reopen assessment.
The issue was whether an assessment could be reopened after four years. The Court held that full disclosure by the taxpayer barred reassessment under Section 147.
Gattula Lakshmi Madhavi Vs ACIT (ITAT Visakhapatnam) Central Circle Cannot Assume Reassessment Powers — Section 148 Notice Issued Outside Faceless Regime Held Void The Visakhapatnam Bench of the ITAT quashed the reassessment framed under Section 147 and consequential penalties under Sections 270A and 271AAC in the case of Gattula Lakshmi Madhavi v. ACIT, holding that […]
