section 143(2)

Section 115BBE needs Relook: Know Misuse, Consequences & Judicial Precedents

Income Tax - Explore the implications of taxation under section 115BBE, including misuse of sections 68 to 69D, consequences of high tax rates, and relevant judicial precedents....

Sufficient time to comply with section 143(2) notice & valid notice u/s 142(1)(ii) is mandatory

Income Tax - Sufficient time is required to comply with the notice issued u/s 143(2) of the Act and valid notice u/s 142(1)(ii), 142(1)(iii) has to be issued compulsorily after 143(2) notice The Ld. Assessing officer is not justified to make assessment as he has issued notice u/s 143(2) of the Act but time period given in the […]...

Consequences of failure to respond to Section 143(2) notice

Income Tax -  1. What is Sec 143(2)? Where a return has been furnished u/s 139, or in response to a notice 142(1), the Assessing Officer (AO) or the prescribed income-tax (IT) authority, as the case may be, if, considers it necessary or expedient: ♦ to ensure that the assessee has not understated the income or has not […]...

Section 143(1)(a)(i) intimation not required on commencement of regular Section 143(2) assessment

Income Tax - On commencement of regular assessment proceedings u/s 143(2) of Act , there is no need for intimation u/s 143(1)(a)(i) Where the summary procedure under section 143(1)(a)(i) has been adopted, there is scope available for the revenue to make assessment u/s 143(3) of the Act. But the converse is not available. A regular assessment proceedin...

Draft Submission | Notice U/S 143(2) Not Valid if Return Filed in Response to Notice U/S 148 Not Recognized by AO

Income Tax - Notice U/S 143(2) Not Valid if Return Filed in Response to Notice U/S 148 Not Recognized by AO. Draft Written Submissions Written submission before the Hon’ble CIT(Appeals), XXXX bad in the case of Sh. XXXXXXXXXXX, XXXXXXX for the A.Yr. 2011-12. The assesse is an individual. He is doing business of trading of building material durin...

Notice u/s. 143(2) should be issued within one year from the date of filing of block return if A.O. rejects the same

Income 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....

Services rendered outside India but used in India is taxable in India

Metso Outotec OYJ Vs DCIT (ITAT Kolkata) - ITAT Kolkata held that the assessee has no permanent establishment in India and these services were also rendered outside India but the services has been used in India and, therefore, it is taxable in India....

Order passed in case of non-existing entity is null and void

India Medtronic Private Limited Vs ADDL/JT/DY/CIT/ITO (ITAT Mumbai) - ITAT Mumbai held that entire assessment order passed in the case of non-existing entity is null and void and hence is liable to be quashed....

Broadcasting Reproduction Right not covered under definition of Royalty under Article 12 of India-USA DTAA

Fox International Channels (US) Inc Vs DCIT (ITAT Mumbai) - ITAT Mumbai held that Broadcasting Reproduction Right is not covered under the definition of Royalty under the Income Tax Act as well as Article 12 of the India-USA DTAA....

Section 271(1)(c) penalty cannot be imposed merely for incorrect income head treatment

D. C. Polyester Limited Vs DCIT (ITAT Mumbai) - In a significant decision, ITAT Mumbai rules in favor of D.C. Polyester Ltd., stating that penalties under Section 271(1)(c) of the Income Tax Act cannot be imposed for incorrect income head treatment....

AO’s Lack of Independent Inquiry Invalidates Unexplained Investment addition

ACIT Vs Karsan Bhai Khimabhai Patel (ITAT Delhi) - Analysis of ACIT Vs Karsan Bhai Khimabhai Patel case where AO's lack of independent inquiry invalidated unexplained investment addition. Learn more about ruling....

CBDT notifies Prescribed Income-tax Authority’ under Section 143(2) for Returns

Notification No. 25/2021-Income-tax [S.O. 1437(E).] - (31/03/2021) - CBDT hereby authorises the Assistant Commissioner of Income-tax/Deputy Commissioner of Income-tax (NaFAC) having her / his headquarters at Delhi, to act as the ‘Prescribed Income-tax Authority’ for the purpose of sub-section (2) of section 143 of the Act, in respect of returns furnished under se...

Revised format of Issue of notices U/s. 143(2) of Income-tax Act, 1961

Notification 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...

CBDT revises format of Issue of Income Tax notices U/s. 143(2)

F.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...

No processing of returns for I-T refund if selected for Scrutiny

Instruction 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...

CBDT allows issue of Refund Intimation U/s. 143(1) beyond time

Instruction 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 ...

section 143(2)’s Popular Posts

Recent Posts in "section 143(2)"

Services rendered outside India but used in India is taxable in India

Metso Outotec OYJ Vs DCIT (ITAT Kolkata)

ITAT Kolkata held that the assessee has no permanent establishment in India and these services were also rendered outside India but the services has been used in India and, therefore, it is taxable in India....

Order passed in case of non-existing entity is null and void

India Medtronic Private Limited Vs ADDL/JT/DY/CIT/ITO (ITAT Mumbai)

ITAT Mumbai held that entire assessment order passed in the case of non-existing entity is null and void and hence is liable to be quashed....

Broadcasting Reproduction Right not covered under definition of Royalty under Article 12 of India-USA DTAA

Fox International Channels (US) Inc Vs DCIT (ITAT Mumbai)

ITAT Mumbai held that Broadcasting Reproduction Right is not covered under the definition of Royalty under the Income Tax Act as well as Article 12 of the India-USA DTAA....

Section 271(1)(c) penalty cannot be imposed merely for incorrect income head treatment

D. C. Polyester Limited Vs DCIT (ITAT Mumbai)

In a significant decision, ITAT Mumbai rules in favor of D.C. Polyester Ltd., stating that penalties under Section 271(1)(c) of the Income Tax Act cannot be imposed for incorrect income head treatment....

AO’s Lack of Independent Inquiry Invalidates Unexplained Investment addition

ACIT Vs Karsan Bhai Khimabhai Patel (ITAT Delhi)

Analysis of ACIT Vs Karsan Bhai Khimabhai Patel case where AO's lack of independent inquiry invalidated unexplained investment addition. Learn more about ruling....

Income from Nursery Activities Deemed Agricultural, Not Business Income: ITAT

Talshibhai B Narola Vs ITO (ITAT Ahmedabad)

In the case of Talshibhai B Narola vs. ITO, ITAT Ahmedabad ruled that income from nursery activities growing lawns, flower plants, and vegetable plants is agricultural, not business income....

Once assessment order is passed Dispute Resolution Panel not empowered to give direction

Undercarriage and Tractor Parts Pvt. Ltd. Vs Dispute Resolution Panel (Bombay High Court)

Bombay High Court held that Dispute Resolution Panel (DRP) could give directions only in pending assessment proceedings. Once assessment order is passed, DRP has not power to pass any direction....

Addition u/s 68 unsustainable as assessee’s involved in price manipulation not established

Poornima Ramesh Shenoy Vs ITO (ITAT Mumbai)

ITAT Mumbai held that addition u/s 68 unsustainable as department failed to establish that assessee was involved in price manipulation even after purchasing and selling the shares on the stock exchange through SEBI registered stock....

Reassessment based on change of opinion without any tangible new information unsustainable

Ashraf Chitalwala Vs DCIT (Bombay High Court)

Bombay High Court held that the reopening of the assessment order based on change of opinion without surfacing of any tangible new information is unsustainable in law and liable to be set aside....

Conversion of firm to company for consideration of paid up share capital doesn’t amount to transfer

ITO Vs Jatin Kanubhai Kotadia (ITAT Ahmedabad)

ITAT Ahmedabad held that Sale/ conversion of business of assessee-firm as a going concern to company for consideration of paid up share capital does not amount to transfer liable to tax as capital gains....

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