Income Tax : ITAT held that additions based solely on third-party search material without independent evidence or cross-examination are invalid...
Income Tax : A detailed look at how the Finance Act, 2021 reshaped Sections 147–151, introduced Section 148A, and reduced limitation periods ...
Income Tax : The Finance Bill, 2026 clarifies who can issue notices under sections 148 and 148A. It confirms that only jurisdictional Assessing...
Goods and Services Tax : The court held that once late fee is imposed for delayed annual return filing, a further general penalty is not permissible. Secti...
Income Tax : The issue was whether an assessment could be reopened after four years. The Court held that full disclosure by the taxpayer barred...
Income Tax : Learn about the new block assessment provisions for cases involving searches under section 132 and requisitions under section 132A...
Income Tax : Discover how Finance Act 2021 revamped assessment and reassessment procedures under Income-tax Act, impacting notices, time limits...
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 : The case examined reassessment based on third-party information without independent application of mind. The Tribunal ruled that r...
Income Tax : The Tribunal relied on Supreme Court precedent to hold that interest on tax arrears is compensatory, not penal. It ruled that such...
Income Tax : The Tribunal held that absence of a clear charge in the penalty notice makes the proceedings invalid. It ruled that failure to spe...
Income Tax : The case examined validity of a reassessment notice issued beyond statutory limits. The ITAT held the notice invalid as it exceede...
Income Tax : The Tribunal upheld reopening under Section 147 as Form 26AS reflected substantial contract receipts despite no return being filed...
Income Tax : ITAT Chandigarh held that ITO Ward-3(1), Chandigarh had no jurisdiction to issue notice to an NRI and hence consequently the asses...
Excise Duty : Notification No. 29/2024-Central Excise rescinds six 2022 excise notifications in the public interest, effective immediately. Deta...
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...
Priya Vs ITO (Allahabad High Court) Heard Sri Rahul Agarwal, learned counsel for the petitioner and Sri Gaurav Mahajan, learned counsel for the respondent nos. 1 and 2/ Income Tax Department. This writ petition has been filed praying, inter alia, for the following relief:- “(i) Issue a writ, or direction in the nature of certiorari […]
Recording of reasons before initiation of reassessment proceedings & communication thereof to assessee is sine qua non that goes to root of matter
Bombay High Court stayed proceedings under Section 148 of Income Tax Act for AY 2014-15. Initial notice was issued after time limit expired
Rochana Agarwal Vs ACIT (Allahabad High Court) The reason for issuing the notice under Section 148 of the Act is that during investigation, the Assessing Officer has gone through the income tax return and other related documents of the assessee and has found that the M/s KCGP Share Broking Service Pvt. Ltd. has been used […]
Consequent to order passed by Allahabad High Court passing severe strictures and proposing to levy exemplary cost of Rs 50 lakhs in a writ challenging reopening of assessment on wrong facts, CBDT today ( 22nd August, 2022 ) has issued instructions to all its officers that for initiating proceedings under Section 148/147 of the Act, […]
Allahabad HC quashed Income Tax reassessment Order notices for violating principle of natural justice & imposed Rs. 50 Lakh cost on Officers
Understanding assessment under the income tax act, 1961. Learn about the different types of assessments and their implications for taxpayers.
Understanding the time limit for reopening proceedings for A.Y 2013-14 & 2014-15 under the old provisions. Learn the implications and exceptions.
Srijal Gupta Vs ITO (ITAT Amritsar) After a thoughtful observation of the fact of the case we decided that the reopening was made u/s. 148 related to purchase of property amount to Rs.9,53,750/-. But after completion of assessment, the ld. AO had accepted the assessee’s investment and had not added any amount related to source […]
Salient features of new Section 148 to 151A ‘i.e. assessment/reassessment procedure of Income Escaping Assessment
