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Section 147

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Legality of Second Notice under Section 148 of Income Tax Act, 1961 for Same Assessment Year

Income Tax : Explore the legality of issuing a second notice under Section 148 of the Income Tax Act, 1961 for the same assessment year. Unders...

June 6, 2024 1146 Views 0 comment Print

11 Latest Amendments in Income Tax: Analysis & Implications

Income Tax : Explore the latest changes in Income Tax laws, including extinguishment of demands, return processing, form amendments, exemptions...

March 31, 2024 14784 Views 2 comments Print

Section 153A & 153C of Income Tax Act: Analysis & Implications

Income Tax : Delve into the provisions of Income Tax Act Sections 153A & 153C, governing assessments after search or requisition. Learn from co...

February 8, 2024 5472 Views 0 comment Print

Recent Judgements of Supreme Court on Income Tax Issues

Income Tax : Explore recent Supreme Court rulings (2023) on income tax issues. Highlights of key cases, analysis, and implications....

January 22, 2024 6867 Views 1 comment Print

Section 147 to 153 Income Escaping Assessment (Reopening of Cases)

Income Tax : Learn about Section 147 to 153 Income Escaping Assessment and Reopening of Cases Under Income Tax Act, 1961. Get guidance on the p...

December 10, 2023 17805 Views 5 comments Print

Latest News

Request to clarify on SC judgement on Section 148 notices

Income Tax : Income Tax Gazetted Officers’ Association requested CBDT to issue Clarification in respect of the judgement of Hon’ble Supreme...

May 12, 2022 6915 Views 0 comment Print

Indiscriminate Income Tax notices without allowing reasonable time

Income Tax : In view of Indiscriminate notices by income Tax Department without allowing reasonable time it is requested to Finance Ministry an...

March 20, 2022 12873 Views 0 comment Print

Extend Time Limit for Income Tax Assessment time barring on 31.3.2022

Income Tax : Lucknow CA Tax Practicioners Association has made a Representation to FM for Extension of Time Limit for Assessment cases time bar...

March 20, 2022 41316 Views 2 comments Print

Notices for assessment/reassessment of income of old cases

Income Tax : Under the provisions of Income-tax Act, 1961, notices for assessment/reassessment of income of old cases of more than six years fr...

August 3, 2018 1893 Views 0 comment Print

No Reopening of Assessment to be made on Audit Objections: Committee Recommends

Income Tax : One of the key sources of dispute is the existing arrangement for follow up on audit objections by Internal Audit Party and the Re...

January 20, 2016 6639 Views 0 comment Print

Latest Judiciary

Interest from SBI Investments Ineligible for Section 80P(2)(a)(i) Deduction

Income Tax : ITAT Bangalore rules interest income from SBI investments not eligible for deduction under Section 80P. Full analysis of Farmers C...

June 16, 2024 51 Views 0 comment Print

Income Tax Notices Sent to Old Address Without Evidence of Service: ITAT Deletes Section 271(1)(b) Penalty

Income Tax : Read the detailed analysis of Sumit Maheshwari Vs ITO case where ITAT Delhi deletes penalty u/s 271(1)(b) of Income Tax Act due to...

June 16, 2024 105 Views 0 comment Print

Accommodation entry: ITAT deletes Section 68 Addition of Rs. 1.17 Crore

Income Tax : Learn about the penalty of Rs. 31.83 Lakh imposed by the MCA for issuing shares in physical mode instead of DEMAT mode in the Biog...

June 15, 2024 354 Views 0 comment Print

Mechanical Reliance on Information: Section 148 notice invalid

Income Tax : ITAT Kolkata quashes notice under Section 148 as AO fails to verify credible information. Insightful analysis of R.S. Darshan Sing...

June 15, 2024 249 Views 0 comment Print

Taxpayer Wins Legal Battle Over Illegal Auction for 1947-48 Assessment Year After 45 Years

Income Tax : Gokal Chand Rattan Chand vs. Union of India: Detailed analysis of Punjab & Haryana High Court's judgment on non-existent tax order...

June 15, 2024 849 Views 0 comment Print

Latest Notifications

Instructions to AO’s for initiating section 147 proceedings in I.T. e-Verification cases

Income Tax : Learn how to initiate proceedings under section 147 of the IT Act in e-Verification cases. Detailed instructions for Assessing Off...

March 19, 2024 8409 Views 0 comment Print

Instructions to AO’s for initiating Section 147 proceedings in e-Verification cases

Income Tax : Explore e-Verification Instruction No. 2 of 2024 from the Directorate of Income Tax (Systems). Detailed guidelines for AOs under I...

March 1, 2024 2289 Views 0 comment Print

Limitation date for reopening cases related to Ashish Agarwal judgment

Income Tax : Supreme Court in the matter of Shri Ashish Agarwal, several representations were received asking for time-barring date of such cas...

February 6, 2023 5298 Views 0 comment Print

Time barring date for reopening cases arising out of SC direction

Corporate Law : Income Tax Gazetted Officers’ Association (W.B.) Unit Date: 02.02.2023. To The Principal Chief Commissioner of Income Tax, W...

February 2, 2023 2922 Views 0 comment Print

Case reopened in light of SC judgment in Ashish Agarwal to be completed by 31.05.2023

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...

January 27, 2023 14109 Views 1 comment Print

Investment in Shares is Capital Account Transaction, Not Income: Delhi HC

March 26, 2024 555 Views 0 comment Print

Delhi High Court rules investment in shares as capital account transaction, not income, in AL Amin Investments Limited Vs ACIT case. Analysis & judgment here.

Reopening Without Cogent Material & on Mere Surmise/Conjecture is Unsustainable: ITAT Delhi

March 26, 2024 2379 Views 0 comment Print

ITAT Delhi held that the reopening of assessment had been initiated by mere surmise and conjecture without having any cogent material to form a reasonable belief that income of the assessee had escaped assessment within the meaning of section 147 of the Income Tax Act.

ITAT allows Expenditure on power of attorney, air tickets, hotel stays against capital gain

March 24, 2024 11988 Views 0 comment Print

In Adil Rehman’s case, ITAT Hyderabad allows expenditure on special power of attorney, air tickets, hotel stays, etc., as deductible in computing capital gains under Section 48(i) of the Income Tax Act.

India-Thailand DTAA: Non-Resident’s Fee for Technical Services Exempt from Taxation

March 24, 2024 1806 Views 0 comment Print

Discover the ITAT Delhi ruling on taxing income from providing business support services to Indian group entities. Analysis of Solvay Asia vs. DCIT case under India-Thailand DTAA.

Payment towards interconnect usage charges to foreign telecom operators not taxable in India: ITAT Mumbai

March 23, 2024 345 Views 0 comment Print

ITAT Mumbai held that the payment made towards interconnect usage charges to foreign telecom operators does not accrue or arise in India and in the absence of any permanent establishment in India could not be brought to tax in India under Article 7 of DTAA.

Allahabad HC Invalidates Notice u/s. 148A(b) for Service to Unregistered Email ID

March 23, 2024 3084 Views 0 comment Print

Allahabad High Court held that valid service of notice under section 148 of the Income Tax Act is a condition precedent for making reassessment under section 147. Accordingly, non-service of notice on registered email ID is unsustainable in the eyes of law.

Assessment framed Without Disposal of Assessee’s Objections is Invalid: ITAT Kolkata

March 23, 2024 816 Views 0 comment Print

ITAT emphasized that the AO must decide on the objections raised by the assessee before proceeding with the assessment. Failure to do so renders the assessment bad in law.

Section 276CC Prosecution: Appellate Proceedings Irrelevant but Wilful Failure to Furnish Returns Must Exist

March 22, 2024 267 Views 0 comment Print

In Vinayagam Sabarisanthanakrishnan Vs ACIT, Madras HC clarifies that failure to file returns under Sec 139(1) is essential for prosecution under Sec 276CC of the Income Tax Act.

HC Quashes Reassessment Notice: Approval Granted Without Application of Mind

March 22, 2024 741 Views 0 comment Print

Delhi High Court judgment in Sanjay Kumar Vs ACIT reveals flaws in reassessment proceedings, jurisdictional issues, and errors in income tax notice.

ITAT Deletes Cash Deposit Addition; Source Linked to Property Sale Advance received by father

March 21, 2024 459 Views 0 comment Print

In the case of Aashish Luthra vs. ITO, ITAT Mumbai deletes cash deposit addition after establishing the source as property sale advance received by the father.

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