Section 148

Analysis of Judgment – J.S. & M.F. Builders Vs. A.K. Chauhan

Income Tax - This writ petition was filed under Article 226 of the Constitution of India, 1950 seeking quashing of the four notices issued to the petitioner under Section 148 of the Income Tax Act, 1961 for reassessment of the income of the petitioner for the four assessment years 1992-93, 1993-94, 1994-95, 1995-96....

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Cash deposit in bank treated as income | Judgments | Section 148 & 144

Income Tax - Important Judgments in the written submissions when assessee is an agriculturist, trader, notice u/s 148 not received, cash deposit with the bank treated as income, 144 Assessment without gathering any material by A.O. and reopening u/s 147 without any tangible material. Written submissions in respect of Shri Xxxxxxxx for the A.Yr. 2011-1...

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Section 148 Judgments on Improper Notice, Vague reasons, Cash Deposit, AIR

Income Tax - Important judgements regarding service of notice u/s 148 when not in a proper manner, reasons recorded are vague, AIR information is not sufficient and deposit of cash and bank not always income of the assessee Written Submissions before the Hon’ble Commissioner of Income Tax (Appeals), Faceless in the case of Shri XXXXX XXXXXX, XXXXXX ...

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Redeposit of cash withdrawn from bank – Submission in Reassessment

Income Tax - Important Judgement regarding reopening of assessment u/s 147 of the Income Tax Act, 1961 and redeposit of the same cash withdrawn from the bank earlier in sample written Submission before the Hon’ble CIT (A), Faceless...

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Conditions Precedent for Reopening of Assessment beyond 4 Year- Section 147

Income Tax - In view of the Proviso to s. 147, merely having a reason to believe that income had escaped assessment is not sufficient to reopen assessments but it must be specifically alleged by the AO in the recorded reasons that the escapement was on account of the failure of the assessee to make a full and true disclosure of material facts. In the ...

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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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Mere Cash Deposit Not A Valid Ground for Reassessment Proceedings

Ashish Natvarlal Vashi Vs ITO (ITAT Surat) - Ashish Natvarlal Vashi Vs ITO (ITAT Surat) 1. Merely cash deposit in a saving bank account does not show that income has escaped assessment. The process of reasoning is absent, and these reasons were not recorded on standalone basis therefore reopening made by the Assessing Officer may be quashed. 2...

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Each Question Wise Objection Disposal Must In Reopening Proceedings: HC

Raj Arivazhagan Vs ITO (Madras High Court) - Raj Arivazhagan Vs ITO (Madras High Court) In the case on hand, the petitioner had raised a specific objection that the proposal for reopening the assessment is liable to be dropped, since there is no finding that there was escapement of income. It was further contended that for the purpose of carry...

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Reopening based on mistaken facts was invalid

Excel Financial Consultants Pvt. Ltd. Vs ITO (ITAT Kolkata) - Therefore, reasons are to be examined only on the basis of reasons as recorded. Here, in this case, I note that the A.O on mistaken facts resorted to reopening which is an admitted fact on a perusal of re-assessment order (supra). Therefore, the condition precedent for reopening the assessment u/s 1...

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Reassessment proceedings after 4 Years invalid if reasons recorded not alleges failure on the part of Assessee

Bharti Cellular Ltd. Vs DCIT (ITAT Delhi) - Bharti Cellular Ltd. Vs DCIT (ITAT Delhi) It is trite that in order to reopen an assessment made under Section 143 (3) of the Act after the expiry of four years from the end of the relevant assessment year, the reasons recorded must allege that there was failure on the part of the assessee to [&hell...

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Section 263 Jurisdiction not invocable when Re-Assessment was Illegal

SBS Realtors Private Limited Vs ITO (ITAT Delhi) - SBS Realtors Private Limited Vs ITO (ITAT Delhi) Learned Counsel for the Assessee submitted that since the re-assessment order is illegal and bad in Law and is covered by the Order of the Tribunal Dated 01.04.2019 in the case of assessee on the same issue, therefore, the Learned Pr. CIT cannot exerc...

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Approval for manual issue of notice u/s 148 without DIN-Reg

F. No. Pr. CCIT/MP & CG/Tech/148/2020-21 - (31/03/2021) - Government of India (Ministry of Finance) Department of Revenue Office of the Pr. Chief Commissioner of Income-Tax, Ground Floor, Aayakar Bhawan, 48, Arera Hills, Bhopal – 462011 Tel No: 0755-2525318, Fax No: 0755-2559547 F. No. Pr. CCIT/MP & CG/Tech/148/2020-21 Date : 31/03/2021 To The Pr...

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PAN Aadhaar linking & section 148 notice issue date extended (Read Notification)

Notification No. 20/2021-Income Tax [S.O. 1432(E)] - (31/03/2021) - Central Government extends the last date for linking of Aadhaar number with PAN from 31st March, 2021 to 30th June, 2021, in view of the difficulties arising out of the COVID-19 pandemic. Date for issue of notice under section 148 of Income-tax Act,1961, passing of consequential order for direction ...

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Potential cases for issue of Section 148 Notice- Central Charges Information

F.No.225/40/2021/ITA-II - (27/03/2021) - It is hereby- directed that the information received from Central Charges after 01.04.2019 may be considered as 'Potential cases', if ii has not been uploaded into VRU/CRIU functionality and is so flagged to the Jurisdictional Authorities concerned by the Central In such cases. Para 1(v) of Board's ...

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Section 148- Instructions on handling of Non-PAN cases flagged by DRI

Notification No. 225/40/2021/ITA-11 - (26/03/2021) - These non-PAN cases have been pushed by Systems to respective Pr. CCIT/Pr. CIT based on address. Considering the time involved in allotting PAN in such non-PAN cases and other technical issues involved in generating notices through the system, the following instructions are being issued for handling...

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Cases to be considered as Potential cases for section 148 notice

F. No.225/40/2021/ITA-II - (15/03/2021) - Following categories of cases will be considered as Potential cases' for taking action u s 148 of the Act tor the A.Y 2013-14 to A.Y. 2017-18 by 31.03.2021: i. Cases where there are Audit Objection (Revenue Internal) which reclaim action u/s 148 of the Act:...

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Recent Posts in "Section 148"

Mere Cash Deposit Not A Valid Ground for Reassessment Proceedings

Ashish Natvarlal Vashi Vs ITO (ITAT Surat)

Ashish Natvarlal Vashi Vs ITO (ITAT Surat) 1. Merely cash deposit in a saving bank account does not show that income has escaped assessment. The process of reasoning is absent, and these reasons were not recorded on standalone basis therefore reopening made by the Assessing Officer may be quashed. 2. The amount deposited in the […]...

Read More

Each Question Wise Objection Disposal Must In Reopening Proceedings: HC

Raj Arivazhagan Vs ITO (Madras High Court)

Raj Arivazhagan Vs ITO (Madras High Court) In the case on hand, the petitioner had raised a specific objection that the proposal for reopening the assessment is liable to be dropped, since there is no finding that there was escapement of income. It was further contended that for the purpose of carrying on verification exercise, […]...

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Reopening based on mistaken facts was invalid

Excel Financial Consultants Pvt. Ltd. Vs ITO (ITAT Kolkata)

Therefore, reasons are to be examined only on the basis of reasons as recorded. Here, in this case, I note that the A.O on mistaken facts resorted to reopening which is an admitted fact on a perusal of re-assessment order (supra). Therefore, the condition precedent for reopening the assessment u/s 147 of the Act is found to be absent and,...

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Reassessment proceedings after 4 Years invalid if reasons recorded not alleges failure on the part of Assessee

Bharti Cellular Ltd. Vs DCIT (ITAT Delhi)

Bharti Cellular Ltd. Vs DCIT (ITAT Delhi) It is trite that in order to reopen an assessment made under Section 143 (3) of the Act after the expiry of four years from the end of the relevant assessment year, the reasons recorded must allege that there was failure on the part of the assessee to […]...

Read More

Section 263 Jurisdiction not invocable when Re-Assessment was Illegal

SBS Realtors Private Limited Vs ITO (ITAT Delhi)

SBS Realtors Private Limited Vs ITO (ITAT Delhi) Learned Counsel for the Assessee submitted that since the re-assessment order is illegal and bad in Law and is covered by the Order of the Tribunal Dated 01.04.2019 in the case of assessee on the same issue, therefore, the Learned Pr. CIT cannot exercise jurisdiction under section […...

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Reasons recorded cannot be substituted at a later point in time by subsequent evidences

Red Hat India Pvt. Ltd. Vs DCIT (ITAT Mumbai)

Red Hat India Pvt. Ltd. Vs DCIT (ITAT Mumbai) From the bare reading of the proviso to section 147 of the Act, it is mandatory on the part of the ld AO to duly mention in the reasons recorded itself as to whether there is any failure on the part of the assessee in disclosing […]...

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Analysis of Judgment – J.S. & M.F. Builders Vs. A.K. Chauhan

This writ petition was filed under Article 226 of the Constitution of India, 1950 seeking quashing of the four notices issued to the petitioner under Section 148 of the Income Tax Act, 1961 for reassessment of the income of the petitioner for the four assessment years 1992-93, 1993-94, 1994-95, 1995-96....

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Posted Under: Income Tax |

Cash deposit in bank treated as income | Judgments | Section 148 & 144

Important Judgments in the written submissions when assessee is an agriculturist, trader, notice u/s 148 not received, cash deposit with the bank treated as income, 144 Assessment without gathering any material by A.O. and reopening u/s 147 without any tangible material. Written submissions in respect of Shri Xxxxxxxx for the A.Yr. 2011-1...

Read More
Posted Under: Income Tax |

Section 148 Judgments on Improper Notice, Vague reasons, Cash Deposit, AIR

Important judgements regarding service of notice u/s 148 when not in a proper manner, reasons recorded are vague, AIR information is not sufficient and deposit of cash and bank not always income of the assessee Written Submissions before the Hon’ble Commissioner of Income Tax (Appeals), Faceless in the case of Shri XXXXX XXXXXX, XXXXXX ...

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Posted Under: Income Tax |

Contradiction In Reasons Recorded & Assessment makes reassessment proceedings a nullity

Balbir Investment Pvt. Ltd. Vs ITO (ITAT Delhi)

Balbir Investment Pvt. Ltd. Vs ITO (ITAT Delhi) A perusal of the reasons recorded by the Assessing Officer shows that he has reopened the assessment by recording the reasons that shares of G.J. Holdings has been procured by Blabir Investments Pvt. The relevant observations of the Assessing Officer in the reasons recorded by the Assessing ...

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