Income Tax : Learn how different types of income tax assessments are conducted under the Income-tax Act. The FAQs explain assessment procedures...
Income Tax : This guide explains who is required to maintain books of account under Section 44AA based on business, profession, turnover, and i...
Income Tax : This guide explains the various assessments under the Income-tax Act, including summary assessment, scrutiny assessment, best judg...
Income Tax : ITAT Mumbai held that an addition under Section 69A cannot be sustained when the assessee is denied the opportunity to cross-exami...
Income Tax : The Tribunal held that CIT(A) cannot enhance income under Section 251 on matters not considered by the Assessing Officer during as...
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...
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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 ITAT held that reassessment notices issued after the surviving limitation period prescribed by the Supreme Court were invalid....
Income Tax : The Gujarat High Court held that reassessment cannot be sustained merely because of high-value bank transactions without evidence ...
Income Tax : ITAT Ahmedabad held that an addition under Section 68 cannot be sustained solely on information received from the Investigation Wi...
Income Tax : The ITAT Hyderabad held that the entire sale consideration could not be assessed as short-term capital gains without examining the...
Income Tax : ITAT Pune held that the reassessment proceedings were invalid because the notice under Section 148 was approved by the Principal C...
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...
Understanding the validity of Section 148 notices issued after April 1, 2021. Learn about the impact of the new provision and its implications.
1. Palaniammal Palaniappan Vs Income Tax Officer (Madras High Court), Case No : WP No. 12793 of 2018 And WMP No. 15016 of 2018, Dated : April 26, 2021 Reopening of assessment u/s 147 – assessee submitted that notice issued beyond the period of limitation of six years from the end of the relevant assessment […]
Sukhdev Singh Vs ITO (ITAT Delhi) As regards the contention of notice not properly served by the Assessing Officer, the explanation of the postal authorities is that the assessee has refused to take notice is a good service and hence ground Nos. 1 to 7 are dismissed. As regards ground Nos. 8 to 13, the […]
Absolute Rule of minimum four weeks gap between rejection of objection and further proceedings of section 147 , Bombay HC(296 ITR 90) Bombay High Court Asian Paints Ltd. vs Deputy Commissioner Of … on 29 January, 2007 Equivalent citations: 2008 296 ITR 90 Bom Bench: S Radhakrishnan, J Devadhar JUDGMENT 1. Heard learned Counsel for […]
The property was conveyed to assessee after the death of his father in 1955, i.e. before coming into force of Hindu Succession Act, 1950. Accordingly, the property belonged to HUF of assessee and not to assessee-individual. Therefore, the assessment order passed under section 147 for difference in sale consideration and fair market value of property itself was liable to be quashed.
Prima Facie some material is required not sufficiency or correctness for valid reopening u/s 147 We have only to see whether there was prima facie some material on the basis of which the Department could reopen the case. The sufficiency or correctness of the material is not a thing to be considered at this stage. […]
Simar Kaur Vs ACIT (ITAT Chandigarh) It is seen that the assessee has consistently maintained its challenge that notice was not issued as it has not been served. The tax authorities have rejected the challenge holding that non-receipt is not equivalent to non-service. It is seen that though the challenge is recorded the wording in […]
Phool Chand Bajrang Lal Vs. ITO (Supreme Court) The Hon’ble Supreme Court judgement in favour of the department makes it clear that when an information which is specific, relevant and reliable reassessment proceedings u/s 147 are valid, otherwise not. One of the purposes of Section 147, appears to us to be, to ensure that a […]
Duggal Estates Pvt. Ltd. Vs ITO (ITAT Delhi) From the reasons it can be seen that the Assessing Officer was not specific as to on what basis the Assessing Officer has the reason to believe that the income of the assessee to the tune of 1 crore has escaped assessment. In fact, in one para […]
ACIT Vs. K. S. Chawla & Sons (HUF) (ITAT Delhi) > HELD THAT:- In the present assessee’s case, search & seizure action u/s 132 of the Act was carried out on 15.10.2009 in the premises of Mr. Abhinav Arora and Mrs. Ranju Arora. Consequently, the Assessing Officer initiated reassessment proceedings u/s 147 of the Act […]
