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...
Punjab and Haryana High Court held that the same assessing officer is required to pass an order under the new scheme after giving notice under Section 148 of the old Act. Thus, all the writ petition are dismissed.
Overview of Section 149 of the Companies Act, 2013: Board composition, women directors, resident and independent directors’ roles, qualifications, and remuneration.
Shipping bills, pertaining to export during the transition i.e. 01.02.2021 to 20.09.2021, were sought to be converted as having been undertaken on claim for drawback or in fulfillment of the scheme for which application was preferred on 25.10.2021.
Delhi High Court held that ITAT cannot address the ground which remained unaddressed by CIT(A). Accordingly, matter restored back to CIT(A) to decide on the grounds that were not decided.
Delhi HC sets aside notice under Section 148 for AY 2017-18 in Sheetal International Pvt Ltd Vs CCIT, citing time-barred limits under Section 149 of the Income Tax Act.
Delhi High Court quashes reassessment proceedings for IBIBO Group for AY 2015-16, following the Taxation Laws Relaxation Act.
Delhi High Court held that uploading of information by the investigation wing of the Income Tax department would not be a substitute for recording of a satisfaction note by the AO of searched person for handing over material to AO of person other than searched person.
CESTAT Allahabad held that amendment of bill of entry under section 149 of the Customs Act, 1962 for claiming benefit of duty exemption certificate received after clearance of goods allowed. Accordingly, appeal of revenue dismissed.
ITAT Mumbai held that reopening of assessment under section 148 of the Income Tax Act beyond 3 years liable to be quashed as escaped income is less than INR 50,00,000. Thus, notice issued u/s. 148 quashed.
The date on which AO passed the above order was 28.11.2019; therefore, re-opening of case for AY.2011-12 is time barred as per the clear provisions of section 150(2) of the Act. Hence, the direction of the CIT(A) is not in accordance with law and is liable to be quashed.
