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...
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.
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
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
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 […]
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 […]
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.
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 […]
Assessee found to be a beneficiary of accommodation entries and been instrumental in manipulating prices of several penny stock scrips on stock exchange.
Sylph Technologies Limited Vs Principal Chief Commissioner of Income Tax (Madhya Pradesh HC) The time limit for issue of notice under section 149 is in respect of Section 148 and not for Section 148A. 1. The AO had issued issued a notice dated 28.06.2021 under pre-amended sec. 148 of the Income tax Act. 2. Later […]
Ekaksh Commerce Pvt Ltd Vs ITO (Calcutta High Court) By this writ petition, petitioner has challenged the impugned order dated 27th April, 2022 under Section 148A(d) of the Income Tax Act, 1961, relating to assessment year 2018-19 on the ground that the same being without jurisdiction and contrary to the provision of Section 149(1)(a) and […]
