Income Tax : Explore key court rulings on reassessment under Section 148 post-2021 amendments, covering procedural changes, taxpayer rights, an...
Income Tax : Written submission against wrong cash deposit notice under Section 148A(b), highlighting errors and lack of independent inquiry....
Income Tax : The Supreme Court’s Rajeev Bansal case clarified the validity of reassessment notices for AY 2013-14 to 2018-19 and introduced t...
Income Tax : The Supreme Court's rulings clarify reassessment procedures under the Income Tax Act, addressing validity, TOLA implications, and ...
Income Tax : The Supreme Court ruling in UOI vs. Rajeev Bansal clarifies reassessment provisions post-April 2021 under Income Tax Act, extendin...
Income Tax : Discover how Finance Act 2021 revamped assessment and reassessment procedures under Income-tax Act, impacting notices, time limits...
Income Tax : Humble Representation for modification of Section 151 of the Income Tax Act relating to Sanction for issue of Notice under sec. 14...
Income Tax : Income Tax Gazetted Officers’ Association requested CBDT to issue Clarification in respect of the judgement of Hon’ble Supreme...
Corporate Law : Non- extension of the Time Barring Date for assessment of reopened cases and issuance of the notices for reopening – difficu...
Income Tax : ITAT Kolkata held that reopening of assessment framed u/s. 148A(d) without application of mind and without controverting the expla...
Income Tax : Deloitte Haskins And Sells Vs ACIT (Gujarat High Court) The High Court recently adjudicated a case concerning a writ petition file...
Income Tax : Rajasthan High Court rejected Agarwal Polysacks' plea against IT reassessment under Section 147, holding the company accountable f...
Income Tax : Delhi High Court held that provision of section 292B doesn’t include passing of order u/s. 148 overlooking error apparent on the...
Income Tax : Gujarat High Court rules that a jurisdictional assessing officer cannot override the faceless assessment scheme under Section 151A...
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...
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...
Income Tax : Consequent to order passed by Allahabad High Court passing severe strictures and proposing to levy exemplary cost of Rs 50 lakhs i...
Income Tax : Salient features of new Section 148 to 151A 'i.e. assessment/reassessment procedure of Income Escaping Assessment...
Commencement of reassessment proceedings while the scrutiny assessment proceedings were on.10.1 Petitioner had taken an objection in that regard, which seems to have escaped the mind of the AO while passing the order under Section 148A(d) of the Act.
Notice under Section 148A(b) & order U/s. 148A(d) of Income Tax Act against an entity (LLP), which was no longer in existence is invalid.
Shukla Enterprises Private Limited Vs ACIT (Delhi High Court) Writ petition is directed against order dated 29.07.2022 passed under Section 148A(d) and the consequential notice dated 30.07.2022 passed under Section 148 of the Income Tax Act, 1961. Besides this, challenge is also laid to the show cause notice dated 25.05.2022 issued under Section 148 A(b) of […]
Order under Section 148A(d) appears from record, is perverse and is in total non-application of mind and is liable to be quashed.
RK Gupta And Son HUF Vs ITO (Delhi High Court) HC held that notice dated 19.05.2022 issued under Section 148A(b) of the Income Tax Act, 1961 shows, that a survey report was generated vis-à-vis Varun Capital Services Ltd. The said communication also alludes to the fact that assessee had entered into share transaction with Kisna […]
Discover insights into Section 148A of the Income Tax Act, 1961, addressing notices for non-furnishing of income tax return, report, or statement. Stay informed about the legal implications, penalties, and important case laws. Source: Finance Act 2021, Legal Analysis.
Explore the amended provisions of reassessment in response to search survey by the Income Tax Department. Learn how to navigate notices under section 148, the exceptions provided in Explanation-2, and the implications for taxpayers. Stay informed with expert insights. Source: Income Tax Act 1961, Amendments, Legal Analysis.
CIT Vs Laxman Dass Khandelwal (Supreme Court of India) After filing a return of income u/s 139(1), 139(4), 139(5), 142(1) if income tax authority considers, it is necessary or expedient to ensure that assessee has not understated the income or has not computed excessive loss or has not under-paid the taxes in any manner, shall […]
Bombay High Court held that initiation of re-assessment proceedings in violation of the procedure prescribed under section 148A(b) of the Income Tax Act i.e. without supplying requisite material is bad in law and liable to be set aside.
As per the provisions of Section 148A(b) 07 days time is required to be given for giving reply to this notice and this provision is mandatory
