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...
HC direct the respondents to maintain judicial discipline and follow the doctrine of binding precedent and be careful in future, having due regard to the authorities of the Court, keeping in mind the judicial propriety and discipline.
Lokhandwala Construction Industries Private Limited Vs DCIT (Bombay High Court) Once a query is raised during assessment proceedings and assessee has replied to it, it follows that the query raised was a subject matter of consideration of the Assessing Officer while completing the assessment. It is not necessary that an assessment order should contain reference […]
Orion Book Binders Private Limited Vs ITO (Calcutta High Court) HC held that writ petition is allowed subject to payment of costs of Rs.5,000/- to the Calcutta High Court Bar Association Lawyers’ Benevolent Fund, since the impugned notice under section 148 of the Income Tax Act, 1961 has been issued on April 8, 2021 as […]
Sandipkumar Parsottambhai Patel Vs ITO (ITAT Surat) We note that in assessees case, the assessing officer received information from the Investigation Wing, Kolkata who had carried out survey / search operations wherein it was established that in large number of penny stock companies share prices were artificially raised/manipulated on the Stock Exchanges in order to […]
Gist and a Snap Analysis of SC Judgment – Union of India Vs Ashish Agarwal (Supreme Court), Appeal Number : Civil Appeal No. 3005/2022, Date of Judgement: 04/05/2022 1. The Union felt aggrieved due to the adverse outcome of several writ petitions which were filed on PAN India basis against notices issued u/s 148 of the Income […]
Understanding the implications of the Honble Supreme Court order on income tax reassessment notices under new provisions. Learn more here.
The issue of validity of notices issued between April 01, 2021 and June 30, 2021 has been a subject matter of major litigation in the past year. Large number of writ petitions were filed across the country, challenging the constitutional validity of the notices issued under section 148 of the Act.
Uphill Farms Private Limited Vs Union of India (Allahabad High Court) HC explains principles, powers and limitations on exercise of powers under Section 147/148 by Income Tax Officers/ Authorities under the Income tax Act, 1961, as under:- (a) The assessing officer under Section 147 of the Act, 1961 has the power to re-assess any income which […]
Union of India Vs Ashish Agarwal (Supreme Court) Hon. Supreme Court Validates Section 148 Notices issued after 31st March 2021- Surprising Turn of Events Introduction: – Various High Courts had quashed reassessment notices issued u/s 148 of the act, on the ground that the same are bad in law in view of the new reassessment […]
Atma Ram Saria Vs ACIT (Delhi High Court) The Supreme Court in GKN Driveshafts (India) Ltd. vs. Income Tax Officer and Ors., (2003) 1 SCC 72 has held that when a notice under Section 148 of the Act is issued, the proper course of action for the noticee is to file a return and if […]
