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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 41313 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 246 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

Assessment order without DIN is void ab initio

January 4, 2024 2313 Views 0 comment Print

ITAT Delhi held that simultaneous issue of the DIN number is insignificant and superfluous exercise, in the absence of mentioning the DIN number on the body of AO’s order. Thus, Assessment order without DIN is void ab initio.

HC explains Implications of Notice Issuance via Post or Email under Section 149

January 2, 2024 2196 Views 0 comment Print

Explore legal nuances of a disputed Income Tax notice in Subramaniam Rohini vs ITO case. Learn about digital signatures, communication timelines, and relevant court judgments

No Section 263 Revision for Non-Limited Scrutiny Issues in Limited scrutiny cases: ITAT

December 30, 2023 606 Views 0 comment Print

ITAT Chennai rules no 263 revision for non-limited scrutiny issues. Upholds assessment order in Epimoney Pvt Ltd vs. ITO case for AY 2018-19.

Year of entering into JDA would be year of taxability under Income Tax

December 28, 2023 5982 Views 0 comment Print

ITAT Hyderabad held that as the parties have entered into registered Joint Development Agreement (JDA) on 04.04.2007 and the “Group of assessee” have also handed over possession to the TBPD pursuant to the agreement. Hence, transfer took place in the assessment year 2008-09.

Transfer of assets of partnership to retiring partners is taxable u/s. 45(4) of Income Tax Act

December 28, 2023 5448 Views 0 comment Print

ITAT Hyderabad held that transfer of assets of the partnership to the retiring partners would amount to the transfer of the capital assets in the nature of capital gains and business profits which is chargeable to tax under section 45(4) of the Income Tax Act.

Underreported Income & Misrepresentation: Bar to Section 270AA Application

December 28, 2023 1095 Views 0 comment Print

Explore the Kerala High Court’s judgment on IBS Software’s plea for immunity under Section 270AA of the Income Tax Act. Detailed analysis of the rejection and legal implications.

Addition u/s. 68 purely based on assumption is unsustainable in law

December 26, 2023 1815 Views 0 comment Print

ITAT Indore held that addition u/s. 68 on account of bogus long term capital gains unsustainable as the alleged transaction is not found recorded in the books of accounts including the Dmat account of the assessee. Hence, addition on the basis of assumption unsustainable.

Assessee can file Revised Form No. 10 During Reassessment: Delhi HC

December 26, 2023 750 Views 0 comment Print

Delhi High Court rules in favor of Canara Bank Relief Welfare Society, allowing the filing of revised Form 10 during reassessment proceedings. Details here.

Discovery in Later Assessments Not Grounds for Reassessment in Prior Years

December 25, 2023 1830 Views 0 comment Print

Karnataka High Court held that reassessment proceedings cannot be in the nature of review and accordingly, the material as has come to light in the assessment proceedings for the Assessment Year 2008- 2009 cannot be a sufficient ground to resort to reassessment proceedings.

Section 147 reopening notice issued in the name of dead person is invalid

December 24, 2023 3204 Views 0 comment Print

Madhya Pradesh High Court declares Section 147 notice issued in the name of deceased person for the assessment year 2018-19 as invalid, quashing all related proceedings.

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