Section 148

Various Assessments Under The Income Tax Law

Income Tax - Every taxpayer has to furnish the details of his income to the Income-tax Department. These details are to be furnished by filing up his return of income. Once the return of income is filed up by the taxpayer, the next step is the processing of the return of income by the Income Tax Department. The […]...

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Objection to filed by the assessee against notice issued under 148

Income Tax - Objection to be filed by the assessee in case notice u/s 148 is issued to the assessee . Below is the complete procedure laid down by the Hon’ble SC In the case of GKN Driveshafts (India) Limited v. ITO (2003) 259 ITR19(sc), The Hon’ble Supreme Court has laid down an elaborate procedure as to the […]...

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Reopening of Assessments after 4 Years -Section 148 -Income Tax Act – Special Considerations

Income Tax - The reopening of an assessment is carried out by the Assessing Officer by first issuing a notice under Section 148 of the Income Tax Act, 1961 (the Act) and thereafter proceeding to make a reassessment order under Section 147 of the Act. Yet, in certain circumstances, the assessee is advised or he decides to challenge […]...

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Assessments under Income-Tax Act, 1961

Income Tax - Every taxpayer has to furnish the details of his income to the Income-tax Department. These details are to be furnished by filing up his return of income. Once the return of income is filed up by the taxpayer, the next step is the processing of the return of income by the Income Tax Department. ...

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Reopening of assessment- Section 147 of Income Tax Act, 1961

Income Tax - Reopening of assessment u/s 147 of the IT Act , 1961 on the basis of information from Investigation Wing of the department On the basis of information received from the investigation wing of the department, the Assessing officer cannot issue notice u/s 148 of the act mechanically, without using his own mind. He has to […]...

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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 from the end of the relevant assessment year can be issued only in the following exceptional situations: i. Under clause (c) of sub-section (1) of section 149 of the Act, in cases where income in […]...

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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 Revenue Audit Party. In terms of the existing arrangement, the Assessing Officer is required to take corrective steps following audit objections. The corrective measures take the form of rectification or reassess...

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Bofors Scam –Quattrochi case can not be reopened U/s. 148 and 149

Income Tax - The income-tax department's hands are tied by the law even if it wants to go after Ottavio Quattrocchi, following the observations of the Income Tax Appellate Tribunal (ITAT). Sections 148 and 149 of the Income Tax Act prevent authorities from reopening assessment in any case that goes beyond six years....

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ITAT – Anguish over ITAT deciding case on a casual, offhanded and cavalier manner – Delhi HC

Income Tax - The High Court noted with anguish that even at the second appellate stage the matters are being dealt with in such a casual manner. The High Court stated that it did not expect the Tribunal, which the highest fact-finding authority in matters relatin...

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S. 147/148 AO cannot review his decision & reopen on a change of opinion

BPTP Limited Vs PCIT (Delhi High Court) - BPTP Limited Vs PCIT (Delhi High Court) Section 147 of the IT Act does not allow the reassessment of an income merely because of the fact that the assessing officer has a change of opinion with regard to the interpretation of law differently on the facts that were well within his knowledge even at t...

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Section 147: Mere ‘Yes’ on approval not amounts to due application of mind

Blue Chip Developers (P) Ltd. Vs. ITO (ITAT Delhi) - Approval given by approving authority for reopening of assessment u/s 147 of the Income Tax Act, 1961 was without due application of mind and in mechanical manner - reassessment should be quashed....

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Validity of Approval for Reopening by CIT for wrong application of Law by AO

ITO Vs Krish Homes Private Limited (ITAT Jaipur) - The question that arises for consideration is where there is no new material brought on record by the Assessing subsequent to completion of original proceedings u/s 143(3) and where the matter was duly examined during the original assessment proceedings, whether the Assessing officer can still acqui...

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Mere participation in section 147 proceedings not confers jurisdiction upon AO

Attar Singh Vs ITO (ITAT Delhi) - Mere participation in proceedings or acquiescence would not confer jurisdiction upon AO who otherwise was not the AO of assessee, therefore, notice issued under section 148 was quashed and since  reopening was quashed,  subsequent orders passed on account of such reopening were also quashed....

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Validity of Income Tax notice issued in name of deceased assessee

Bipinbhai Bachubhai Kataria Vs ITO (Gujarat High Court) - Legal representative of deceased assessee not having waived the requirement of notice under section 148 and not having submitted to jurisdiction of AO pursuant to the impugned notice issued in the name of deceased, provisions of section 292B would not get attracted and hence, notice under section 14...

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Consider Info related to Penny Stock in Scrutiny Assessment: CBDT

F.No.287/30/2014-IT (inv. II)-Vol-III - (16/03/2016) - Assessing Officer to ensure that information available in the 'Penny Stock' functionality which may be useful for the purpose of cases presently under scrutiny, is examined and considered while finalizing assessments and considering reopening of cases u/s 148 of the IT Act, 1961. ...

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Section 148’s Popular Posts

Recent Posts in "Section 148"

Notice to Amalgamated Company which ceased to exist is without jurisdiction

Gayatri Microns Ltd. Vs ACIT (Gujarat High Court)

Gayatri Microns Ltd. Vs ACIT (Gujarat High Court) The Gujarat High Court set aside Reassessment Notice issued to the amalgamated company which ceased to exist after approval of the composite scheme of arrangement. The controversy in the present petition, is no longer res integra. The Apex Court in the case of Principal Commissioner of Inc...

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S. 147/148 AO cannot review his decision & reopen on a change of opinion

BPTP Limited Vs PCIT (Delhi High Court)

BPTP Limited Vs PCIT (Delhi High Court) Section 147 of the IT Act does not allow the reassessment of an income merely because of the fact that the assessing officer has a change of opinion with regard to the interpretation of law differently on the facts that were well within his knowledge even at the […]...

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Section 147: Mere ‘Yes’ on approval not amounts to due application of mind

Blue Chip Developers (P) Ltd. Vs. ITO (ITAT Delhi)

Approval given by approving authority for reopening of assessment u/s 147 of the Income Tax Act, 1961 was without due application of mind and in mechanical manner - reassessment should be quashed....

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Validity of Approval for Reopening by CIT for wrong application of Law by AO

ITO Vs Krish Homes Private Limited (ITAT Jaipur)

The question that arises for consideration is where there is no new material brought on record by the Assessing subsequent to completion of original proceedings u/s 143(3) and where the matter was duly examined during the original assessment proceedings, whether the Assessing officer can still acquire jurisdiction by exercising powers u/s...

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Mere participation in section 147 proceedings not confers jurisdiction upon AO

Attar Singh Vs ITO (ITAT Delhi)

Mere participation in proceedings or acquiescence would not confer jurisdiction upon AO who otherwise was not the AO of assessee, therefore, notice issued under section 148 was quashed and since  reopening was quashed,  subsequent orders passed on account of such reopening were also quashed....

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Validity of Income Tax notice issued in name of deceased assessee

Bipinbhai Bachubhai Kataria Vs ITO (Gujarat High Court)

Legal representative of deceased assessee not having waived the requirement of notice under section 148 and not having submitted to jurisdiction of AO pursuant to the impugned notice issued in the name of deceased, provisions of section 292B would not get attracted and hence, notice under section 148 had to be treated as invalid....

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Various Assessments Under The Income Tax Law

Every taxpayer has to furnish the details of his income to the Income-tax Department. These details are to be furnished by filing up his return of income. Once the return of income is filed up by the taxpayer, the next step is the processing of the return of income by the Income Tax Department. The […]...

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In absence of valid notice, AO has no authority to assume jurisdiction U/s. 147 

Late Bharti Harendra Modi By Her Legal Heir Nikhilharendr Modi Vs ITO (Gujarat High Court)

Late Bharti Harendra Modi by Her Legal Heir Nikhilharendr Modi Vs ITO (Gujarat High Court) The notice under section 148 of the Act, which is a jurisdictional notice, has been issued to a dead person. Upon receipt of such notice, the legal representative has raised an objection to the validity of such notice and has […]...

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Objection to filed by the assessee against notice issued under 148

Objection to be filed by the assessee in case notice u/s 148 is issued to the assessee . Below is the complete procedure laid down by the Hon’ble SC In the case of GKN Driveshafts (India) Limited v. ITO (2003) 259 ITR19(sc), The Hon’ble Supreme Court has laid down an elaborate procedure as to the […]...

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Posted Under: Income Tax |

Fresh information in investigation report form- Reassessment notice valid

Chetan Sabharwal Vs ACIT (Delhi High Court)

Fresh information in the form of investigation report clearly demonstrated that initial disclosure regarding price of shares was not true and there was whole ‘live link’ between material in the form of investigation report and formation of belief that income had escaped assessment, therefore, reassessment notice was sustained as valid...

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