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 Tribunal upheld reopening under Section 147 as Form 26AS reflected substantial contract receipts despite no return being filed...
Income Tax : The issue was deletion of additions on unsecured loans treated as unexplained cash credits. The tribunal upheld deletion, holding ...
Income Tax : The issue involved dismissal of appeal due to delay and non-appearance. The tribunal condoned the delay citing medical reasons and...
Income Tax : The issue was whether reassessment could be initiated after four years without fresh evidence. The court held such reopening inval...
Income Tax : The issue was whether reassessment notice issued without approval from the correct authority is valid. The tribunal held it invali...
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...
S.R. Batliboi & Co. Vs ACIT (Calcutta High Court) Kelvinator of India Ltd. (supra) has held that, after April 1, 1989 the assessing officer invoking the provisions of Section 147 of the Act of 1961 must have tangible material to come to the conclusion that, there was escapement of income from assessment. Reasons must have a […]
The issue of notice under section 143(2) in reassessment proceedings, prior to finalizing re-assessment order, cannot be condoned by referring to section 292BB and it was fatal to the order of reassessment.
HC held that Before parting, we have to note that we have come across series of orders passed by the same Assistant Commissioner wherein reassessment proceedings are initiated after the period of four years and the reasons supplied and the actions taken are not in consonance with the settled law. We request the learned Standing Counsel to supply compilation of the above referred judgments to the concerned Commissioner.
CIT Vs M/s Sudev industries limited (Delhi High Court) Whether the Income Tax Appellate Tribunal is justified in law in holding that service of notice at the factory premises of the Assessee on the security guard was not proper service under the provisions of Section 282(2) of the Income Tax Act, 1961? Section 282 of […]
Ravina & Associates Pvt. Ltd. Vs Addl. (ITAT Delhi) 1. The undisputed facts are that in the original return of income filed by the assessee for the instant years, the income representing the deposits in the bank account with Natwest Bank, London was not declared by the assessee. It is also undisputed that the said […]
This appeal filed by the revenue is directed against the order of Ld. CIT(Appeals) – 19, Kolkata dated 05.03.2014 and in the solitary ground raised therein, the revenue has challenged the action of the Ld. CIT(A) in cancelling the assessment made by the A.O. under section 143(3) / 147 of the Income Tax Act, 1961 by holding the same to be invalid.
The appellant contented that penalty under section 271(1)(b) can be imposed by the AO if he is satisfied that any person failed to comply with the notice under section 142(1) or under section 143(2) or directions issued under section 142(2A) of the Act. Therefore, no penalty can be levied under section 271(1)(b) for non compliance of notice issued under section 148.
Sh. Shridhar Bedi through Legal Heir Vs ITO (ITAT Amritsar) Proper notice u/s 148 of the Act for initiating reassessment proceeding is not a mere procedural requirement but the service of the prescribed notice on the assessee is a condition precedent to the validity of any of the reassessment made u/s 147. It is settled […]
Notice u/s 148 of the Act can only be issued if the income escaping assessment amounts to, or is likely to amount to Rs. 1 lac. Non-recording of the reason by the Assessing Officer that the escaped income was likely to be Rs. 1 lac or more was fatal to the issuance of the notice for reassessment.
Sunil Agarwal Vs ITO (ITAT Delhi) We find that there is no allegation in the reasons recorded that there is failure on the part of the assessee to disclose fully and truly all material facts necessary for assessment u/s 147 of the Act, the notice issued u/s. 148 of the Act after a period of […]
