Income Tax : Learn about Income Tax Act Section 147 assessment proceedings: reasons for reopening, notice issuance, objections, assessment proc...
Income Tax : Under Section 147 of the Income Tax Act, reassessment cannot be based on a mere change of opinion by the AO. Read more on this leg...
Income Tax : Explore the Bombay High Court's decision on reassessment under Section 147, balancing tax authority powers with procedural safegua...
Income Tax : SC clarifies reassessment notices under TOLA and Finance Act 2021 in Union of India v. Rajeev Bansal. Learn how decision impacts t...
Income Tax : Explore the Supreme Court's impact on India's tax reassessment system, highlighting judicial intervention, tax administration, and...
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 : Rajasthan HC allows partial relief in reassessment dispute, directing a 20% deposit for stay on demand recovery while cases awai...
Income Tax : Calcutta HC dismisses IT department's appeal in CIT vs. Infinity Infotech, ruling reassessment cannot expand beyond recorded reaso...
Income Tax : Aadhunik Infrastructure Development Pvt. Ltd. Vs DCIT (ITAT Pune) The Income Tax Appellate Tribunal (ITAT), Pune Bench “A,” ha...
Income Tax : ITAT Kolkata invalidates reassessment of Neena Commercial Pvt. Ltd. due to vague reasons and lack of jurisdiction for new addition...
Income Tax : Punjab & Haryana HC quashes Section 148 notice issued by jurisdictional AO, ruling that only NFAC has authority under CBDT Circula...
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...
Income Tax : Salient features of new Section 148 to 151A 'i.e. assessment/reassessment procedure of Income Escaping Assessment...
Where AO passed order of reassessment under section 147, even when Revenue processed return of assessee under section 143(1)(i) by intimation, the impugned assessment order deserved to be quashed, as the AO could not proceed with extraordinary power under section 147, when normal procedure of assessment of income under section 143(3) was available.
Explore the ITAT Delhi’s decision on Anant Concrete Products Pvt. Ltd. vs ITO, highlighting jurisdictional issues in the reassessment process. Learn how the lack of proper jurisdiction impacts the validity of re-assessment.
While deleting an addition made in respect of undisclosed income, the Delhi bench of the ITAT held that the gift received by the assessee cannot be treated as non-genuine merely for the reason that the family members of the assessee had received bogus gifts during the same year.
Hyderabad bench of Income Tax Appellate Tribunal held that if the AO was satisfied with the original assessment then the re-assessment order under section 147/ 148 of the Income Tax Act passed only on the direction of the superior officers is invalid.
Revised grounds of appeal were filed by the assessee, which are placed on record. Amongst various grounds of appeal taken by the assessee, main grievance and issue raised by the assessee-appellant before this Tribunal relates to validity of the proceedings under section 148 of the Income-tax Act, 1961
The Petitioner seeks the quashing of a notice dated 20th March, 2015 issued under Section 148 of the Income Tax Act (Act) by the Assistant Commissioner of Income Tax (hereinafter Assessing Officer AO) and the order dated 1st February, 2016 passed by the AO disposing of the objections filed by the Petitioner to the said notice.
This writ petition by Yum! Restaurants Asia PTE Ltd. under Articles 226 and 227 of the Constitution, seeks the quashing of a notice dated 28th March 2012 issued by the Deputy Director of Income Tax (hereinafter the Assessing Officer or AO) under Section 148 of the Income Tax Act, 1961 (hereinafter the Act) seeking to reopen the assessment for Assessment Year (AY) 2005-06.
Where CIT (A) had annulled original scrutiny assessment concluded under section 143(3) on the legal ground that notice issued under section 143(2) was time-barred, then revenue was precluded to adopt recourse of reassessment under section 147 to correct the mistake committed originally in not issuing notice under section 143(2) in time.
The assessing officer issued notice under section 148 for reassessment, during the pendency of assessment proceedings by issue of notice under section 148 which is bad in law and cannot be sustained
Proceedings under Section 148 of the Act which commenced with the notice dated 3rd April, 2012 issued to VBPPL were itself void ab initio for the simple reason that on that day VBPPL was not in existence as a result of the order dated 20th February, 2013 of the High Court approving its amalgamation with the Petitioner with effect from 1st April, 2012. The question of revival of such proceedings at a later point in time, with there being no change to the legal position regarding VBPPL having ceased to exist, does not arise.
