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 : 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...
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 : Bombay High Court held that half-hearted approach on the part of AO to make additions on the issue of bogus purchase would not be ...
Income Tax : Bombay High Court held that issuance of notice under section 148A of the Income Tax Act by Jurisdictional Assessing Officer and no...
Income Tax : ITAT Kolkata held that CIT has not applied his mind analytically while assuming jurisdiction for taking cognizance under section 2...
Income Tax : ITAT Ahmedabad held that passing of revisionary order by PCIT u/s. 263 of the Income Tax Act without giving proper and adequate op...
Income Tax : ITAT Hyderabad held that dismissal of appeal by CIT(A) on the ground of non-deposition of self-assessment tax by the assessee need...
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...
Lokhandwala Construction Industries Private Limited Vs DCIT (Bombay High Court) In this case, during the original assessment proceedings, a notice dated 19th October 2019 was issued under Section 142(1) of the Act by which petitioner was called upon to furnish copies of Index II(s) of three flats sold during the year. Petitioner responded by its […]
Analysis of the recent Supreme Court judgment on Section 148 Notices. Find out if the court used excessive force when a simpler approach would have sufficed.
Understanding the Supreme Court’s decision on reassessment after the amendment. Learn about the rights of the Revenue and Assessees in this legal controversy.
Learn about the impact of the Finance Act 2021 on reassessment notices and the validity of unamended Act notices issued post 01/04/2021.
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.
