Income Tax : Understand Section 194S of the Income Tax Act on 1% TDS for Virtual Digital Asset transfers, including deductor rules, compliance,...
Income Tax : ITAT Mumbai quashes reassessment (AY 13-14, 14-15) as AO missed the Rajeev Bansal-mandated "surviving limitation." S. 149 prevails...
Income Tax : Analysis of the Rajeev Bansal Supreme Court ruling on reassessment approvals, clarifying complexities in Section 151 and its impac...
Income Tax : Explore key court rulings on reassessment under Section 148 post-2021 amendments, covering procedural changes, taxpayer rights, an...
Company Law : Overview of Section 149 of the Companies Act, 2013: Board composition, women directors, resident and independent directors' roles,...
Income Tax : Learn about the new block assessment provisions for cases involving searches under section 132 and requisitions under section 132A...
Income Tax : Discover how Finance Act 2021 revamped assessment and reassessment procedures under Income-tax Act, impacting notices, time limits...
Income Tax : The Tribunal held that the reassessment notice issued on 26.07.2022 was beyond the permissible timeline under the surviving limita...
Income Tax : Mumbai ITAT held that reassessment notice issued under Section 148 for AY 2015-16 on 31.07.2022 was barred by limitation under Sec...
Income Tax : ITAT ruled that appellate powers under Section 251 are confined to assessment year under appeal. Directions to reopen completed as...
Income Tax : The Tribunal ruled that the Revenue must establish a direct connection between seized material and the assessee’s taxable income...
Income Tax : Hyderabad ITAT held that a notice issued under Section 148 after six years from the end of AY 2015-16 was invalid. The Tribunal ru...
Custom Duty : Learn how to file and process Bill of Entry amendments at Jawahar Lal Nehru Custom House. Get insights on self-approval and office...
The tribunal ruled that reassessment notices issued after April 2021 for AY 2015-16 are invalid, as they fall outside TOLA provisions and are time-barred.
The case examines whether a Section 148 notice issued after the extended limitation period was invalid. Key takeaway: approval beyond three years required the higher authority under Section 151(ii), making the notice vulnerable.
ITAT held that a reassessment notice issued under Section 148 is invalid if approved by JCIT instead of the Pr.CIT for cases reopened after four years. Limitation rules under section 151 must be strictly followed.
ITAT Delhi held that the PCIT’s sanction under section 151 was granted before the AO recorded reasons to reopen the assessment, violating mandatory procedural requirements. As the jurisdictional defect went to the root, the section 148 notice and entire section 147 reassessment were declared void ab initio.
The ITAT held that a reassessment notice issued beyond the six-year limitation under Section 149 is invalid. Key takeaway: Tax authorities must strictly comply with statutory time limits.
The Tribunal ruled that reassessment under section 147 was invalid where the basis of information stemmed from a third-party search. It held that such cases must mandatorily proceed under section 153C. The key takeaway: search-linked data cannot justify a section 147 reopening.
The Tribunal ruled that a Section 148 notice issued after six years from AY 2013–14 was invalid, quashing the reassessment and additions under Section 54F.
Reassessment proceedings initiated without obtaining prior approval from the appropriate “specified authority” under Section 151(ii) such as the Principal Chief Commissioner of Income Tax or the Principal Director General were invalid.
Understand Section 194S of the Income Tax Act on 1% TDS for Virtual Digital Asset transfers, including deductor rules, compliance, and filing details.
Delhi High Court held that reassessment proceedings for AY 2014–15 were time-barred and quashed notices and orders issued under Sections 148 and 148A.
