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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 1218 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 14823 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 5778 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 7242 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 18348 Views 7 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 12891 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 41337 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 6645 Views 0 comment Print


Latest Judiciary


Section 148 notice invalid if not comply with Finance Act 2021: Telangana HC

Income Tax : Telangana HC sets aside reassessment notices under Section 148 for not following the modified procedure of Finance Act 2021. Inval...

June 24, 2024 480 Views 0 comment Print

ITAT quashes re-assessment proceedings: Partners property incorrectly assumed as Firms property

Income Tax : ITAT Delhi quashes reassessment proceedings against Chaudhary Stone Crusher, ruling on sale of partners property before IT notice ...

June 24, 2024 183 Views 0 comment Print

HC directs consideration of Condonation of Section 264 revision application against Section 143(1) intimation

Income Tax : Delhi HC directs obtaining instructions in BT India Pvt Ltd vs PCIT case, discussing dismissal of revision application under Secti...

June 20, 2024 276 Views 0 comment Print

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 489 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 2100 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 8475 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 2370 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 5307 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 2928 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 14172 Views 1 comment Print


Reassessment beyond four years on the basis of retrospective amendment not justified

November 15, 2010 609 Views 0 comment Print

Reopening of tax assessment beyond four years on the basis of a retrospective amendment is not justified, if the assessee has fully and truly disclosed all the material facts necessary during the original assessment proceedings

Reopening under section 147 on mechanical basis void even where s. 143(3) assessment not made

November 6, 2010 390 Views 0 comment Print

The assessee-company allotted shares to four companies. The allottee companies were active as per the records of the ROC and were allotted PAN and assessed to income-tax. Though the assessee filed a return, no assessment u/s 143(3) was made. The AO s

ITAT – Anguish over ITAT deciding case on a casual, offhanded and cavalier manner – Delhi HC

October 20, 2010 363 Views 0 comment Print

The High Court noted with anguish that even at the second appellate stage the matters are being dealt with in such a casual manner. The High Court stated that it did not expect the Tribunal, which the highest fact-finding authority in matters relatin

Reopening of assessment under section 147 for mistakes that could be rectified under section 154 is invalid

September 25, 2010 927 Views 0 comment Print

The High Court held that notice issued for reopening the assessment which could be rectified under section 154 is invalid.

On non-compliance with statutory condition precedent, reopening of an assessment cannot be sustained

August 19, 2010 567 Views 0 comment Print

The condition precedent in the proviso to Section 147 is that the income must have escaped assessment by the failure of the assessee to fully and truly disclose all material facts necessary for assessment for that Assessment Year.

Reopening of an assessment on mere change of opinion without any tangible material is unsustainable

August 19, 2010 498 Views 0 comment Print

We are conscious of the circumstance that in the present case the re-opening of assessment is sought to be effected within a period of four years of the expiry of the relevant assessment year. However, it is now a well settled position of law that a mere change of opinion would not justify the Assessing Officer in seeking a recourse to the powers under Section 1

Income Tax – Reasseement can not be done under section 147 for rectification of mistake U/s. 154 – Mumbai HC

August 12, 2010 771 Views 0 comment Print

While Explanation 2 to s. 147 deems income to have escaped assessment if excessive deduction is allowed, the reopening of an assessment u/s 147 has serious ramifications because the AO is empowered to reassess income even in respect of issues not set out in the notice. Therefore, if the power to rectify an order u/s 154(1) is adequate to meet a mistake or error in the order of assessment, the AO must take recourse to that power as opposed to the wider power to reopen the assessment. If the error can be rectified u/s 154, it would be arbitrary for the AO to reopen the entire assessment u/s 147. Further, the error in the order was not attributable to a fault or omission on the part of the assessee and the assessee cannot be penalized for a fault of the AO;

Reasons recorded by AO for reopening an assessment are the only reasons which can be considered when formation of belief is impugned

April 26, 2010 372 Views 0 comment Print

The principal challenge in these proceedings is to the notices issued by the first respondent under section 148 of the Income Tax Act, 1961 proposing to assess the income of the petitioner for assessment years 2005-06 and 2006-07 on the ground that there is reason to believe that income chargeable to tax had escaped assessment, within the meaning of section 147.

Validity of S.147 reopening has to be determined based on law prevailing on date of issue of S.148 notice

March 15, 2010 550 Views 0 comment Print

In respect of AY 2004- 05, the assessee computed its book profits u/s 115JB by claiming a deduction for provision for doubtful debts and advances and the same was allowed vide order u/s 143 (3). On 18.07.2008 (within 4 years), the AO issued a notice u/s 148 inter alia on the ground that the provision for doubtful debts had to be added back to the book profits.

Recourse to the power under Section 147 cannot be sustained on a mere change of opinion

February 7, 2010 582 Views 0 comment Print

The admitted position before the Court, on the basis of the material on the record, is that by the notice under Section 148 issued on 30th November 2009, the assessment pertaining to the year 2002 ­03 was sought to be reopened after the lapse of four years. Section 147 postulates inter alia that if the Assessing Officer has reason to believe

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