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Income Tax : Explore the structure of income tax reassessment provisions, including Sections 147, 148, 148A, 149, and 151, covering notice issu...
Income Tax : Explore the new reassessment provisions under the Finance Act, 2024, including updates to sections 148, 148A, 149, and 151, with s...
Income Tax : Discover the key amendments in the Finance (No.2) Bill, 2024, affecting income tax reassessment procedures under the Income-tax Ac...
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Income Tax : Discover how Finance Act 2021 revamped assessment and reassessment procedures under Income-tax Act, impacting notices, time limits...
Income Tax : Delhi High Court sets aside a Section 148 income tax reassessment notice for Assessment Year 2015-16, ruling it time-barred based ...
Income Tax : Assessee challenged this, arguing the procedure under Section 148A was not followed. The Supreme Court ruled that notices after 31...
Income Tax : Patna High Court held that notice must be supported by reasons. Accordingly, since notice issued under section 148 of the Income T...
Income Tax : Held that the AO seeks to disallow expenses on account of doubting the genuineness for the reason that the same were not incurred ...
Corporate Law : Delhi High Court held that initiation of reassessment proceedings by issuance of notice under section 148 of the Income Tax Act is...
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Delhi High Court sets aside a Section 148 income tax reassessment notice for Assessment Year 2015-16, ruling it time-barred based on the Revenue’s concession in a Supreme Court case.
Assessee challenged this, arguing the procedure under Section 148A was not followed. The Supreme Court ruled that notices after 31.03.2021 had to follow the amended Section 148A.
Patna High Court held that notice must be supported by reasons. Accordingly, since notice issued under section 148 of the Income Tax Act is not supported by reasons the same is liable to be quashed. Thus, writ petition stand allowed.
Held that the AO seeks to disallow expenses on account of doubting the genuineness for the reason that the same were not incurred wholly or exclusively for the purpose of the petitioner’s business.
Delhi High Court held that initiation of reassessment proceedings by issuance of notice under section 148 of the Income Tax Act is not sustainable in law in as much as the same is barred by limitation as stipulated u/s. 149 (1) of the Income Tax Act.
Patna High Court held that reassessment proceedings initiated on the basis of incorrect information which was not supported by any material is not sustainable in law. Accordingly, order passed thereon is liable to be quashed.
Bombay High Court reviews Shell India’s challenge to the 2016-17 assessment order under Section 144C. Dispute involved Relaxation Act applicability.
ITAT Hyderabad held that reopening of assessment u/s. 148 of the Income Tax Act is void-ab-initio since income escaped assessment doesn’t exceed Rs. 50 lakhs or more. Accordingly, assessment order passed by AO is quashed.
Patna High Court held that reassessment proceedings under section 148A(b) of the Income Tax Act is justifiable since proceedings initiated within a three year period as per section 149(1) of the Income Tax Act.
Patna High Court upholds Section 148 notice to Abha Saraf, ruling it was issued within extended limitation due to Supreme Court’s COVID-related order.
