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...
Rupa Mahesh Gandhi Vs ITO (ITAT Ahmedabad) As transpires from the orders of the authorities below, the addition to the income of the assessee on account of unexplained investment in Bombay Stock Exchange of Rs.25,21,525/- and unexplained source of payment of credit card amounting to Rs.3,45,000/- was made in the absence of any details submitted […]
Section 148A(b) Notice is not expected to be as detailed as assessment order and it would suffice that reassessment reasons broadly outlined
ITAT held that co-owners showed capital gains of different amount, is not a valid ground for issue of notice under section 148
Before issuance of notice under Section 148 of the Act, approval of the higher authorities is a mandatory statutory requirement.
HC held that issuance of a notice under Section 148 in absence of any new tangible material was nothing but an attempt to review earlier order of assessment passed by A.O.
S. Ramamirtham Vs ITO (ITAT Chennai) It is an admitted fact that the original assessment has been completed u/s. 143(3) of the Act on 20.03.2014. It is also an admitted fact that notice u/s. 148 of the Act dated 13.09.2017 is beyond four years from the end of the relevant assessment year. Thus, proviso to […]
Authority admits that there has to be some material on record on basis of which, A.O. would form a bonafide belief that income of assessee had escaped assessment
Basic fact that assessee is not eligible for filing return of income was not taken into account and therefore, there was no application of mind while recording reasons for reopening.
Section 148 notice issued on non-existing company in spite of revenue having notice and knowledge of non-existence of such Company is quashed
Delhi High Court sets aside a tax notice against Majestic Handicraft Private Limited, challenging the claim of accommodation entries.
