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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 14817 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 7233 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 18345 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 435 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 180 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

Honesty of assessee cannot attract penalty under Section 271(1)(c)

May 28, 2024 6219 Views 0 comment Print

The Kerala High Court rules that additional income disclosed voluntarily cannot be treated as concealed income under Section 271(1)(c) of the Income Tax Act.

Section 115BBDA Does Not Apply to Domestic Companies: ITAT Hyderabad

May 27, 2024 387 Views 0 comment Print

ITAT Hyderabad rules Section 115BBDA of the Income Tax Act does not apply to domestic companies, deleting the addition made by the Income Tax Officer.

Section 154(1A): AO cannot rectify any matter already decided in Appeal proceeding

May 27, 2024 558 Views 0 comment Print

Discover the ITAT Delhi ruling in Anurag Singh vs. ITO, where it was decided that AO cannot rectify issues already settled by CIT(A). Full case analysis and implications.

AO correctly assumed Section 147 jurisdiction if lack of full & true disclosure: Delhi HC

May 24, 2024 420 Views 0 comment Print

Delhi High Court ruling: Assessing Officer cannot assume jurisdiction under Section 147 of Income Tax Act without proper grounds. Detailed analysis and judgment.

ITAT Allows Section 54F Deduction for Multiple Units received pursuant to JDA

May 23, 2024 6426 Views 0 comment Print

ITAT Bangalore allows Section 54F deduction for all apartment units from JDA, dismissing Revenue’s appeal. Learn about the significant tax ruling.

AO cannot reopen the assessment only on suspicion: ITAT Mumbai

May 22, 2024 3858 Views 0 comment Print

ITAT Mumbai rules in favor of V. K. Nanavaty Share and Stock Brokers Pvt. Ltd, quashing the reopening of assessment as wholly without jurisdiction under section 148 of the Income Tax Act.

Income Tax Act Section 132(8-A): Bank Account Freezing Expires in 60 Days

May 17, 2024 1677 Views 0 comment Print

Learn how Delhi High Court ruled that bank account freezing under Section 132(8-A) of Income Tax Act lapses after 60 days. Get insights into Pooja Trading Co. Vs DCIT (Inv) & Anr.

Loss on Government Securities Sale & Depreciation: ITAT allows Bank’s Claim

May 14, 2024 441 Views 0 comment Print

ITAT Ahmedabad allows a bank’s loss on the sale of government securities and depreciation, citing regulatory compliance and business activity.

No 20% Tax Remittance Mandate for Stay Applications: Madras HC

May 12, 2024 6453 Views 1 comment Print

Discover the Madras High Court’s verdict on tax dispute stay applications. Learn how the ruling impacts taxpayers and legal proceedings. Full judgment insights.

No Capital Gain Tax on Shares Transferred as Gift: Bombay HC

May 10, 2024 18141 Views 0 comment Print

Bombay High Court ruling states that capital gain tax is not applicable on the transfer of shares as a gift. Detailed analysis and judgment explanation provided.

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