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...
In 2006, the Indian Government introduced electronic filing of Income-tax returns for the first time in case of corporates which subsequently made mandatory for all tax payers. Since then there is constant digitization of processing of tax returns.
Thus, it appears that only on the basis of the valuation report received from the said officer – Assistant Valuation Officer, the assessing authority sought to reopen the proceeding under Section 147 of the Act, 1961 which is clearly not an information for reopening the assessment proceeding
When postal authorities collected notice from revenue on 31-3-2015 (last date of expiry of six years from end of relevant assessment year) as per arrangement between revenue and postal department, though such notice was served to assessee later, such notice under section 148 of Income Tax Act, 1961 was not barred by limitation.
In the case of AVTEC Limited Vs. DCIT, Delhi High Court has held that- 1. Assessee is under no obligation to file the same document during assessment in each AY. The AO is to look at the litigation history of the assessee himself and cannot expect the assessee to inform him. 2. principle of consistency is […]
In the opinion of the bench, e reopening based on mere reappraisal of existing material is without jurisdiction, and therefore, is invalid. The bench, while hearing an appeal filed by the department against the order of the ITAT, held that the assessee’s duty is only to disclose facts and not to make inferences. It was also held that the decision of the division bench of the Court in Consolidated Photo is no longer a good law.
There has been constant reopening of assessments by Assessing Authorities on mere change of opinion while law is well settled on the point that an assessment cannot reopened by recourse to section 147/ 148 of the Income tax Act, 1961 on mere change of opinion of the Assessing Officer(AO).
The AO examined the nature of the transactions involving the Assessee and the payments received therefor. The reopening was not based on any fresh material. By revisiting the same materials the successor AO now concluded that the payments received by the Assessee pursuant to the O&M Agreements should be treated as FTS.
They have been heard together and are being disposed of by this common judgment. Facts may be noted from Special Civil Application No. 2548 of 2016.
Issue of validity of reassessment proceedings is a jurisdictional issue. It goes to the root of the matter. The Tribunal ought to have examined the ground no.3 raised in the assessee’s appeal on its merit without being prejudiced by the facts that the reassessment order has been passed on the exparte basis in which the proceedings the assessee has not objected to the initiation of the reassessment.
Without any concrete facts, reopening cannot be ordered merely on the presumption that the returned income is very shockingly lower than the total gross receipts.
