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Income Tax - 1) Intimation issued under section 143(1) of the Income-tax Act, 1961 (`the Act') displays mismatch of income without detailed analysis or reconciliation, of income tax returns filed by assesses. 2) Challenges and potential consequences in relation to returns processed by CPC...
Read MoreIncome Tax - An assessee is required to file an income tax return under Section 139 or in response to notice under section 142, consisting all the details of income earned during the previous year. Once the return is filed the next step of Income tax department is to examine the return for its correctness. This examination is known as Assessment....
Read MoreIncome Tax - Notice under Section 142(1) is usually served to call upon documents and details from the tax payers, and to take a particular case under assessment. The basic purpose is to inquire the details of the assessee before making assessment under the Act. It can be related to ‘Preliminary Investigation’ before starting the assessment....
Read MoreIncome Tax - 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. ...
Read MoreIncome Tax - 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 arbit...
Read MoreIncome Tax - The Supreme Court has ruled that it is mandatory for the Income Tax Department to issue notice within the prescribed time limit of one year where the assessing officer in repudiation of the block return filed by the assessee proceeds for an inquiry....
Read MoreITO Vs Shri Rajesh Agarwal (ITAT Lucknow) - ITAT Lucknow held In the case of ITO vs. Shri Rajesh Agarwal that undisputedly notice of hearing under section 143(2) was issued on the last day of limitation/prescribed period for issuance of notice i.e. on 30.9.2011 at 15.19 hours by speed post....
Read MoreShri Jeevan Kumar Agarwal vs. ACIT (ITAT Lucknow) - ITAT Lucknow held In the case of Shri Jeevan Kumar Agarwal vs. ACIT that there is no specific provision in the Act requiring the assessment made under section 153A to be after issue of notice under section 143(2). In the case of Ashok Chaddha vs. CIT...
Read MoreITO Vs M/s Staunch Marketing Pvt. Ltd. (ITAT Delhi) - The issue in dispute raised in additional ground relating to non issue of the mandatory notice u/s. 143(2) of the Act is decided in favour of the assessee and we hold that the impugned assessment order dated 31.12.2009 passed u/s. 147/143(3) of the Act by the AO as invalid....
Read MoreShri Mohinder Kumar Chhabra Vs Income Tax Officer (ITAT Delhi) - In view of this position, there was no reason why reassessment proceedings should continue as no notice under section 143(2) of the Act was served on the assessee within the stipulated time. Decision of Hon'ble Jurisdictional High Court in the case of Alpine Electronics Asia Pte. Ltd. (supra) and V....
Read MoreAlpine Electronics Asia Pte Ltd. Vs Director General of Income Tax & Others (Delhi High Court) - Alpine Electronics Asia Pte Ltd Vs. DGIT (Delhi HC)- Draft order is not the final assessment order and does not result in completion of assessment. Under sub-section (2) to Section 143, the assessee has a right to accept, within 30 days, the draft assessment order or has right to file objections wi...
Read MoreNotification No. F.No. 225/157/2017/ITA.II-Income Tax - (23/06/2017) - The three formats of notice(s) are: Limited Scrutiny (Computer Aided Scrutiny Selection}, Complete Scrutiny (Computer Aided Scrutiny Selection), Compulsory Manual Scrutiny The revised format of 143(2) notice(s) with a note on benefits & Procedures of' E-Proceeding' facility are enclosed for infor...
Read MoreF.No. 225/162/2016/ITA.II - (11/07/2016) - Central Board of Direct Taxes, with approval of the Revenue Secretary, has decided to modify notice under section 143(2) of the Income-tax Act. Henceforth, there shall be three formats of the said notice namely: Limited Scrutiny, Complete Scrutiny, Manual Scrutiny...
Read MoreInstruction No.1/2015 - (13/01/2015) - Instruction No.1/2015 Clarification regarding applicability of section 143(1D) of the Income-tax Act, 1961- Vide Finance Act, 2012, section 143(1D) was introduced in income tax act which prohibited processing of income tax returns in case notice u/s 143(2) has been issued (i.e. scrutiny cases). Ambi...
Read MoreInstruction No. 18/2013 - (17/12/2013) - Several instances have come to the notice of the Board Where due to certain technical or other reasons (which inter-alia included wrong migration of PAN and delayed release of returns by the Centralized Processing Cell to the jurisdictional authorities), intimation in refund cases could not be sent ...
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Notification No. F.No. 225/157/2017/ITA.II-Income Tax - (23/06/2017) -
F.No. 225/162/2016/ITA.II - (11/07/2016) -
ITO Vs Shri Rajesh Agarwal (ITAT Lucknow) -
Shri Jeevan Kumar Agarwal vs. ACIT (ITAT Lucknow) -
ITO Vs M/s Staunch Marketing Pvt. Ltd. (ITAT Delhi) -
