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Income Tax : Explore the Bombay High Court's ruling on the invalidity of a reassessment notice under Section 148 of the Income-tax Act, 1961, f...
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Income Tax : Humble Representation for modification of Section 151 of the Income Tax Act relating to Sanction for issue of Notice under sec. 14...
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Income Tax : Delhi High Court held that reassessment action under section 148 of the Income Tax Act post approval of the resolution plan unsust...
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Income Tax : Explore the latest guidelines for issuing notice under Section 148 of the Income Tax Act, 1961. Understand key procedures, amendme...
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...
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Delhi High Court held that the legislative history of Section 245A of the Income Tax Act indicates that the proceedings for assessment, re-assessment and re-computation u/s. 148, prior to issuance of notice u/s. 148 of the Act, were excluded from the scope of the definition of the term ‘case’. Literal interpretation of language of section 245A is justifiable.
ITAT Delhi held that reassessment proceedings initiated u/s 147 of the Income Tax Act unsustainable as sufficient enquiry was made by AO on the impugned transaction and hence it tantamount to change of opinion on part of AO.
In the case being analyzed, the Delhi High Court referred to Explanation (i) to Clause (b) of Section 245A to determine whether the proceedings for assessment or reassessment had commenced for the assessment years 2012-13, 2013-14, and 2014-15. The court concluded that based on a plain reading of the explanation, no such proceedings had commenced during those years. As a result, the court upheld the decision of the Income Tax Settlement Commission to deem the petitioner’s application under Section 245C(1) invalid for those assessment years.
Calcutta High Court has overturned the order passed under Section 148A(d) of Income Tax Act and restored the matter to the stage of 148A(b).
Calcutta High Court has recently ruled that the issuance of notice and initiation of reassessment beyond six years is barred by limitation
HC set aside SCN issued under Section 148A(b) & consequential orders on the grounds that the opportunity of being heard provided at first instance should be an effective opportunity, since, the power of reopening an assessment is a ‘power’ which should be exercised with adequate reason.
The scope of reopening assessments under the Income Tax Act, 1961 (IT Act) remains unclear, despite several reformative changes introduced by the Parliament through the Finance Act, 2021.
ITAT Delhi held that the assessment order passed against a non-existing company is void ab initio and hence liable to be quashed.
ITAT Kolkata held that reassessment proceeding initiated in the name of nonexistent amalgamated company is without jurisdiction, void ab initio and is liable to be annulled.
ITAT Delhi held that reopening of assessment proceedings merely on the basis of information received from the investigation wing is invalid and bad in law and hence liable to be quashed.