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...
Income Tax : Explore the latest changes in Income Tax laws, including extinguishment of demands, return processing, form amendments, exemptions...
Income Tax : Delve into the provisions of Income Tax Act Sections 153A & 153C, governing assessments after search or requisition. Learn from co...
Income Tax : Explore recent Supreme Court rulings (2023) on income tax issues. Highlights of key cases, analysis, and implications....
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...
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 : Under the provisions of Income-tax Act, 1961, notices for assessment/reassessment of income of old cases of more than six years fr...
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...
Income Tax : Gujarat High Court quashes Income Tax reassessment notice against Deepak Natvarlal Pankhiyani HUF, citing lack of fresh evidence s...
Income Tax : PCIT Vs Farmson Pharmaceuticals Gujarat Pvt Ltd (Gujarat High Court): Reassessment cannot be solely based on a reevaluation of exi...
Income Tax : Assessee was engaged in diamond manufacturing, trading, and windmill power generation, had claimed deductions under sections 35DD ...
Income Tax : ITAT Raipur order on Rajesh Kumar Tiwari vs ITO. ITAT sets aside Income Tax reassessment completed without providing fair & reason...
Income Tax : Read the detailed analysis of Karrm Infrastructure Pvt. Ltd. vs. CIT at ITAT Mumbai. Learn why ITAT ruled that non-filing of GST b...
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...
Corporate Law : Income Tax Gazetted Officers’ Association (W.B.) Unit Date: 02.02.2023. To The Principal Chief Commissioner of Income Tax, W...
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...
Bombay High Court held that notice not setting out the material that provided the basis for assumption of jurisdiction u/s. 147 and 148 of the Income Tax Act is without jurisdiction and unsustainable in law.
Record shows that reassessment proceedings have been triggered based on information received by respondent/revenue via a Tax Evasion Petition (TEP).
Madras High Court held that the re-assessment proceedings initiated by the assessing officer beyond four years from the end of the relevant assessment year is legally impermissible.
RK Gupta And Son HUF Vs ITO (Delhi High Court) HC held that notice dated 19.05.2022 issued under Section 148A(b) of the Income Tax Act, 1961 shows, that a survey report was generated vis-à-vis Varun Capital Services Ltd. The said communication also alludes to the fact that assessee had entered into share transaction with Kisna […]
PCIT Vs Karan Polymers Pvt. Ltd (Calcutta High Court) Short issue involved in the instant case is whether assumption of jurisdiction by PCIT under Section 263 of the Act was justified. The learned Tribunal noted that the issue based on which the PCIT assumed jurisdiction under Section 263 of the Act was the very same […]
Bhaveshbhai Manilal Patel Vs ITO (ITAT Ahmedabad) In this case by Information noted by the AO of cash deposits of Rs.10.00 lakhs in the bank account of the assessee leading to belief of escapement of income, has been duly demonstrated before me to be incorrect. The actual cash deposits were only to the tune of […]
Explore the amended provisions of reassessment in response to search survey by the Income Tax Department. Learn how to navigate notices under section 148, the exceptions provided in Explanation-2, and the implications for taxpayers. Stay informed with expert insights. Source: Income Tax Act 1961, Amendments, Legal Analysis.
Sri Laxmi Narayan Agency Vs ITO (Orissa High Court) On writ the assessee contended that the documents on the basis of which the Assessing Officer had formed the reason to believe that income had escaped assessment were not supplied to the assessee, and that the request for opportunity of cross-examination of the persons on the […]
ITAT Jaipur held that once the penalty is levied for non-maintenance of book of accounts, there cannot be further default for not getting the same audited as required u/s 44AB of the Act and therefore, the penalty levied u/s 271B is not justified.
Explore the changes in the law for reopening assessments under Section 147 from April 1, 2021. Understand the salient features, time limits, and what to do if you receive Notice u/s 148A(b). Get expert insights for effective navigation.
