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...
Income Tax : Explore the latest changes in Income Tax laws, including extinguishment of demands, return processing, form amendments, exemptions...
Income Tax : Delve into the provisions of Income Tax Act Sections 153A & 153C, governing assessments after search or requisition. Learn from co...
Income Tax : Explore recent Supreme Court rulings (2023) on income tax issues. Highlights of key cases, analysis, and implications....
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...
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 : Under the provisions of Income-tax Act, 1961, notices for assessment/reassessment of income of old cases of more than six years fr...
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...
Income Tax : Gujarat High Court quashes Income Tax reassessment notice against Deepak Natvarlal Pankhiyani HUF, citing lack of fresh evidence s...
Income Tax : PCIT Vs Farmson Pharmaceuticals Gujarat Pvt Ltd (Gujarat High Court): Reassessment cannot be solely based on a reevaluation of exi...
Income Tax : Assessee was engaged in diamond manufacturing, trading, and windmill power generation, had claimed deductions under sections 35DD ...
Income Tax : ITAT Raipur order on Rajesh Kumar Tiwari vs ITO. ITAT sets aside Income Tax reassessment completed without providing fair & reason...
Income Tax : Read the detailed analysis of Karrm Infrastructure Pvt. Ltd. vs. CIT at ITAT Mumbai. Learn why ITAT ruled that non-filing of GST b...
Income Tax : Learn how to initiate proceedings under section 147 of the IT Act in e-Verification cases. Detailed instructions for Assessing Off...
Income Tax : Explore e-Verification Instruction No. 2 of 2024 from the Directorate of Income Tax (Systems). Detailed guidelines for AOs under I...
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...
The Apex Court had in GKN Driveshafts (India) Ltd. v. ITO [2003] 259 ITR 19 had held that the proper course for the assessee, when he received the notice under section 148 was to seek reasons, if he so desired, for the notices. The Assessing Officer was bound to give reasons. On receipt of the reasons, the assessee was entitled to file objections and the Assessing Officer was bound to dispose of the same by passing a speaking order. It was further held in the said case that as the reasons had been disclosed, the Assessing Officer had to dispose of the objections, if filed, by passing a speaking order before proceeding with the assessment
It has been recognized by the Supreme Court itself in Asstt. CIT v. Rajesh Jhaveri Stock Brokers (P.) Ltd. [2007] 291 ITR 500, that even where proceedings under section 147 are sought to be taken with reference to an intimation framed earlier under section 143(1), the ingredients of section 147 have to be fulfilled;
The credit given for TDS in an order passed under Section 155(14) read with Section 154 cannot be construed as a relief given in the original assessment order. Section 155 of the Act provides for various situations under which an order can be amended because of developments taking place subsequent to the date on which the order was originally passed.
Whether a complaint filed by one of the directors before the Common Law Board alleging irregularities such as illegal siphoning off of the company’s funds by two other directors constitutes tangible material, on the basis of which reopening U/s 147 is possible?
Notice cannot be issued when returns are pending – Notice cannot be issued unless the return which has already been filed has been disposed of – CIT v. M.K.K.R. Muthukaruppan Chettiar [1970] 78 ITR 69 (SC); Bhagwan Das Sita Ram (HUF) v. CIT [1984] 146 ITR 563 (SC).
Explore how Income Tax Appellate Tribunal upholds consistency in mobilization advance treatment, referencing an accepted accounting method and legal precedent.
Where the HUF was in existence during the relevant year and a partition took place later, for purposes of initiating reassessment proceedings for that year, it would not be necessary to issue notice to every member of the family – Lakshminarain Bhadani v. CIT [1951] 20 ITR 594 (SC).
Notice to company registered in Sikkim – A notice under section 148 can be validly issued on a company, if it is in respect of income which is stated to have arisen in India, even though the registered office of the company is situated in Sikkim – Alankar Commercial (P.) Ltd. v. ACIT [2000] 244 ITR 31 (SC).
When a person has a dual capacity, as an individual as well as karta of HUF, and notice under section 148 is intended to be addressed to HUF, it is necessary to specifically mention that notice was/is being addressed to him in his capacity as karta of HUF.
Number of notices that can be issued – If the appellant had already been served with a notice under section 148 and had complied therewith by filing a return, it was entitled to contend that no second notice lay and also to submit that in any event, the second notice was barred by time.