#Section 148
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Addition for Property Purchased from Gifts by Relatives- ITAT directs re-adjudication

Unverified Information: ITAT upholds quashing of Re-assessment Order

Section 147 Assessment Invalid if Based on Cash Deposit Information Alone

Issuance of notice & all consequential proceedings in the name of deceased assessee are null & void

Order passed without considering documents furnished is liable to be remanded back

Reassessment proceedings based upon unverified details are not valid

ITAT Quashes Reassessment initiated without Tangible Materials

Ex-parte order passed without considering submission is non-speaking order

Estimate of cost by Departmental Valuer cannot constitute concealment hence penalty u/s 271(1)(c) not leviable

Calcutta HC Grants Stay on Reassessment Proceedings beyond 6 Years

Order passed u/s 148A(d) would remain subject to order to be ultimately passed in reassessment proceeding u/s 148

ITAT upheld addition for Income received for arranging the deal

Critical Role of Initial Enquiry under Section 148A(a) for Taxpayer Protection

Reassessment proceedings in absence of adequate reasoning is erroneous
Explore the latest Section 148 updates on TaxGuru, including relevant Income-tax Act provisions, rules, notifications, circulars, judicial decisions and compliance guidance. The coverage highlights important tax positions, procedural requirements, assessments, deductions, penalties and litigation developments to help taxpayers and professionals understand the practical implications of changes in income-tax law.
