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Section 148A

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11 Latest Amendments in Income Tax: Analysis & Implications

Income Tax : Explore the latest changes in Income Tax laws, including extinguishment of demands, return processing, form amendments, exemptions...

March 31, 2024 14607 Views 2 comments Print

Wrong SFT Reporting may invite Notice U/s 148A of Income Tax Act, 1961

Income Tax : Discover the consequences of incorrect SFT reporting triggering U/s 148A notices under the Income Tax Act, 1961. Learn from a deta...

February 27, 2024 3174 Views 0 comment Print

Period of limitation prescribed under Income-tax Act, 1961

Income Tax : The Income-tax Act has prescribed time limit in respect of various procedures, applications, etc. (like time limit for filing an a...

November 3, 2023 2178 Views 1 comment Print

Validity of Section 148A(b) & Section 148A(d) Proceedings: Legal Analysis

Income Tax : Explore legality of Section 148A(b) & Section 148A(d) proceedings post Finance Act 2021. Understand implications of local assessm...

October 21, 2023 4419 Views 0 comment Print

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

Income Tax : Understand the critical role of the initial enquiry under Section 148A(a) for taxpayer protection in income tax assessments. Explo...

July 12, 2023 5322 Views 0 comment Print

Latest News

Request to amend section 151 Sanctioning Authority for reassessment

Income Tax : Humble Representation for modification of Section 151 of the Income Tax Act relating to Sanction for issue of Notice under sec. 14...

July 25, 2022 6426 Views 0 comment Print

Request to clarify on SC judgement on Section 148 notices

Income Tax : Income Tax Gazetted Officers’ Association requested CBDT to issue Clarification in respect of the judgement of Hon’ble Supreme...

May 12, 2022 6882 Views 0 comment Print

IT officers association demand extension of Time Barring Date for assessment

Corporate Law : Non- extension of the Time Barring Date for assessment of reopened cases and issuance of the notices for reopening – difficu...

March 29, 2022 8316 Views 0 comment Print

Latest Judiciary

Completed assessments cannot be reopened without new material or grounds

Income Tax : Delhi High Court quashes proceedings under Section 148 of the Income Tax Act initiated for reassessment in Akshita Jindal Vs ITO c...

May 9, 2024 534 Views 0 comment Print

Investments from NRE Accounts not taxable under Section 10(d) of Income Tax

Income Tax : Explore the Gujarat High Court judgment on reopening an NRI assessment, analyzing investments from NRE accounts and failure to fil...

May 6, 2024 3891 Views 0 comment Print

PCCIT sanction Required for Reopening Notice After 3 Years: Bombay HC

Income Tax : Impugned order and notice indicated that sanctioning authority was PCIT. However, since issuance date of both documents was beyond...

May 6, 2024 606 Views 0 comment Print

Non-payment of tax before first appeal filing not fatal if appellant fulfills tax obligation later

Income Tax : in terms of section 249(4)(a) of the Act, stipulation as to payment of tax ante filing of first appeal is only directory and not m...

May 5, 2024 441 Views 0 comment Print

Reassessment cannot be based solely on reasons borrowed from other departments or reports

Income Tax : In case of Balaji Mines And Minerals Pvt Ltd vs ACIT, Bombay High Court ruled that reassessment cannot be based solely on reasons ...

May 5, 2024 1065 Views 0 comment Print

Latest Notifications

Limitation date for reopening cases related to Ashish Agarwal judgment

Income Tax : Supreme Court in the matter of Shri Ashish Agarwal, several representations were received asking for time-barring date of such cas...

February 6, 2023 5229 Views 0 comment Print

Time barring date for reopening cases arising out of SC direction

Corporate Law : Income Tax Gazetted Officers’ Association (W.B.) Unit Date: 02.02.2023. To The Principal Chief Commissioner of Income Tax, W...

February 2, 2023 2898 Views 0 comment Print

Case reopened in light of SC judgment in Ashish Agarwal to be completed by 31.05.2023

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...

January 27, 2023 13890 Views 1 comment Print

Carry out due verification before initiating Section 148/147 proceedings: CBDT

Income Tax : Consequent to order passed by Allahabad High Court passing severe strictures and proposing to levy exemplary cost of Rs 50 lakhs i...

August 22, 2022 13110 Views 0 comment Print

Revised Guideline for Issue of Section 148 Notice

Income Tax : Salient features of new Section 148 to 151A 'i.e. assessment/reassessment procedure of Income Escaping Assessment...

August 1, 2022 72075 Views 1 comment Print

Petitioner has right to get adequate time under Section 148A to respond to SCN

October 17, 2022 1155 Views 0 comment Print

Bird Worldwide Flight Services (I.) Pvt. Ltd Vs DCIT (Delhi High Court) Court is of the view that the Petitioner has a right to get adequate time under Section 148A of the Act to respond to the show cause notice. It is pertinent to mention that Section 148A(b) of the Act permits the Assessing Officer […]

Issuance of notice u/s 148A based on adequate information is tenable

October 13, 2022 2520 Views 0 comment Print

Orissa High Court held that notice issued u/.s 148A of the Income Tax Act clearly demonstrates that the Assessing Authority had in possession of information about deposit of cash in the banks and hence the same is tenable in law

HC quashes Section 148A order for not-providing sufficient information

September 21, 2022 2523 Views 0 comment Print

High Court held that reasons provided to the petitioner did not contain any information but it is titled as ‘cash related information detail’ and such information cannot be said to be sufficient for reopening of the assessment.

Section 148 Notice valid If Assessee failed to submit Crypto Currency Ledger

September 20, 2022 2145 Views 0 comment Print

Assessee to satisfy the authority by submitting Crypto currency ledger to verify information as was submitted by him before AO in proceedings under Section 148A

Reassessment when Income Tax Act not provide for it – Application of Article 142

September 18, 2022 5199 Views 1 comment Print

Can the I-T department call for reassessment when the Income Tax Act, 1961 does not provide for it – Per Incuriam application of Article 142

Reopening of assessment based on Investigation Report of other Assessee justified

September 18, 2022 2088 Views 0 comment Print

S. Raheja Realty Pvt. Ltd. Vs Office of Income Tax Officer (Gujarat High Court) On perusal of the Explanation (1) of the Section 148, it is clear that that for the purpose of Section 148A, the information with the Assessing Officer which suggests that the income chargeable to tax has escaped assessment means any information […]

Delhi HC allows reopening of AY 2013-14 till 30th June, 2021

September 18, 2022 3252 Views 0 comment Print

Touchstone Holdings Pvt. Ltd. Vs ITO (Delhi High Court) Delhi High Court allows reopening of AY 2013-14 (despite being beyond 6 years from 1st April 2021), basing on extension as per Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 (TOLA). The time limit for issuing notice under unamended Section 149 which […]

Audit Objection cannot be basis of AO’s ‘Reasons to Believe’ after lapse of time period of 6 Years

September 13, 2022 1959 Views 0 comment Print

An audit objection did not satisfy the requirement of AO having an independent ‘reason to believe’ that income had escaped assessment, that too after the elapse of nearly six years from the end of the relevant assessment year, therefore, the impugned reassessment proceedings were vitiated.

Reassessment Proceedings against Reassessment order Stayed by Delhi HC

September 13, 2022 4101 Views 0 comment Print

United Associates Vs ITO (Delhi High Court) A Writ Petition was filed in Hon’ble Delhi high Court to set aside the notice dated 28.06.2022 issued by the Income Tax Department under section 148 of the Income Tax Act, 1961 and order u/s 148A(d) issued by the Respondent No.1 under section 148 of the Income Tax […]

Penny stock/accommodation entry – Reassessment notice must contain relevant documents 

September 13, 2022 1491 Views 0 comment Print

Assessee found to be a beneficiary of accommodation entries and been instrumental in manipulating prices of several penny stock scrips on stock exchange.

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