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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 1113 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 14772 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 5448 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 6816 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 17688 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 41304 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 1887 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

Calcutta HC Stays Section 148 IT Notice Due to Limitation and Pending Appeal

Income Tax : Calcutta High Court stays Section 148 notice for 2016-17 due to limitation issues and pending appeal. Jurisdictional conflicts lea...

June 14, 2024 60 Views 0 comment Print

Delhi HC Invalidates Reassessment Notice, Upholds Section 149(1)(b) Time Limits

Income Tax : Delhi High Court rules that reassessment actions post-2021 searches must meet the First Proviso to Section 149(1) of the Income Ta...

June 14, 2024 453 Views 0 comment Print

Audit objections alone do not fulfill criteria for reopening assessments: Delhi HC

Income Tax : Delhi High Court invalidates reassessment proceedings against Samsung India for AY 2002-03, ruling lack of fresh tangible material...

June 13, 2024 249 Views 0 comment Print

Subsidiary would only be deemed a PE if it satisfies specific tests outlined in DTAA

Income Tax : Delhi High Court quashes reassessment notices by DCIT after TPO settles arm's length remuneration issue. Detailed analysis of Prog...

June 9, 2024 330 Views 0 comment Print

ITAT deletes Section 69A Addition in the hand of intermediary in fund transfer

Income Tax : ITAT Ahmedabad deletes ₹4.45 crore addition under Section 69. Money from JDS Industries not deemed as Global Ship Trade P. Ltd...

June 9, 2024 804 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 8400 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 2277 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 5274 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 14100 Views 1 comment Print

Assessment Reopening Limited to Four Years if there was Full Disclosure by Assessee

May 5, 2024 603 Views 0 comment Print

Mumbai ITAT rules in Lalita Troy Caeiro Vs ITO case that assessment can’t be reopened beyond 4 years if there’s full disclosure by assessee. Detailed analysis and conclusion provided.

Non-payment of tax before first appeal filing not fatal if appellant fulfills tax obligation later

May 5, 2024 492 Views 0 comment Print

in terms of section 249(4)(a) of the Act, stipulation as to payment of tax ante filing of first appeal is only directory and not mandatory, where appeal is filed without payment of tax but subsequently required amount of tax is paid, appeal shall be admitted on making payment of tax and taken up for hearing on merits.

Reassessment cannot be based solely on reasons borrowed from other departments or reports

May 5, 2024 1218 Views 0 comment Print

In case of Balaji Mines And Minerals Pvt Ltd vs ACIT, Bombay High Court ruled that reassessment cannot be based solely on reasons borrowed from other departments or reports, such as Justice M.B. Shah Commission Report.

Assessee eligible for vacancy allowance under section 23(1)(c) for vacant commercial units

May 5, 2024 258 Views 0 comment Print

Explore the detailed analysis of Mack Star Marketing Private Limited Vs National Faceless Appeal Centre Delhi regarding taxing unsold flats in real estate business, applicable from AY 2018-19. ITAT deletes notional rent addition for AY 2014-15.

Contractor’s statement alone insufficient to establish a transaction as benami

May 5, 2024 264 Views 0 comment Print

Allahabad High Court quashes benami transaction proceedings in Smt. Meera Pandey Vs Union of India case, stating contractor’s statement alone insufficient. Read full judgment.

Section 148 Notice Invalid; Should Have Followed Faceless Regime: Section 151A

May 3, 2024 13746 Views 1 comment Print

Detailed analysis of Bombay High Court’s ruling on Hexaware Technologies Ltd vs ACIT. Invalid notice under Section 148 scrutinized. Time limitation, violation of CBDT Circular, faceless regime, jurisdictional conditions, change of opinion, and more explored.

Addition u/s 68 was justified as assessee’s failed to establish genuineness of transaction with cogent and credible evidence

May 2, 2024 621 Views 0 comment Print

Assessee had miserably failed to establish genuineness of the transaction by cogent and credible evidence and that the investments made in its share capital were genuine.

Section 143(1) Assessment cannot be Reopened on Mere Suspicion: Bombay HC

April 28, 2024 9411 Views 0 comment Print

Explore how the Bombay High Court ruled against reopening Section 143(1) assessments without valid reasons, safeguarding taxpayers’ rights. Detailed analysis and implications.

Conditions for Section 153A Reassessment notice Issuance after 6 Years

April 28, 2024 837 Views 0 comment Print

Discover the conditions for issuance of a reassessment notice u/s 153A beyond six years & explore the detailed analysis of ACIT Vs Goldstone Cements Ltd. (ITAT Kolkata) case.

One assessment order per assessee per assessment year should prevail unless annulled or set aside

April 19, 2024 774 Views 0 comment Print

The court’s deliberation highlights the absence of any challenge to the initial re-assessment order or its revision by the Commissioner. Furthermore, the judgment underscores the principle that one assessment order per assessee per assessment year should prevail unless annulled or set aside by a competent authority or court.

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