Not An Enabling Provision, Proscribes Reassessment Action Beyond Limitation: Delhi HC Explains Timelines U/S 149 Of Income Tax Act
1 month, 2 weeks ago

Not An Enabling Provision, Proscribes Reassessment Action Beyond Limitation: Delhi HC Explains Timelines U/S 149 Of Income Tax Act

Live Law  

The Delhi High Court has made it clear that Section 149 of the Income Tax Act, which prescribes a limitation period for initiating reassessment against an assessee, is not an enabling provision but rather a proscription on the Assessing Officer's powers. The Court illustrated “If the show cause notice under Section 148A of the Act is issued to an assessee, on the last date on which issuance of such a notice under Section 148 of the Act is permissible, that is, on the last day of expiry of three years from the end of the relevant assessment year or ten years from the end of the assessment year as the case may be, the time made available to the assessee to respond to a notice under Section 148A of the Act, is required to be excluded for the calculation of the period of three years or ten years as the case may be." No notice under Section 148 could be issued under the provisions of Section 149 prior to 01.04.2021 if, four years had elapsed from the end of the relevant assessment year; four years but not more than six years had elapsed from the end of the relevant assessment year if the income chargeable to tax, which had escaped assessment, amounted to or was likely to amount to ₹1 lac or more for that year; or four years but not more than sixteen years had elapsed from the end of the relevant assessment year if the income in relation to any asset in any entity located outside India and chargeable to tax had escaped assessment. “Thus, in terms of Section 149 of the Act as in force prior to 01.04.2021, no notice under Section 148 of the Act could have been issued beyond the period of six years from the end of the relevant assessment year…no notice under Section 148 of the Act could have been issued in this case after 31.03.2020 in respect of AY 2013-14,” it ruled. Before parting, it observed, “the AO is required to complete the entire procedure for issuance of notice under Section 148 of the Act within the period as prescribed under Section 149 of the Act.

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IBC | Once Resolution Plan Approved, Dues Not Part Of It Get Extinguished : Supreme Court Rejects Post-Resolution Income Tax Demand
6 days, 13 hours ago

IBC | Once Resolution Plan Approved, Dues Not Part Of It Get Extinguished : Supreme Court Rejects Post-Resolution Income Tax Demand

Live Law  

The Supreme Court today declined a claim raised by the Income Tax Department to include a tax demand in a Resolution Plan after it was approved by the Adjudicating Authority under the Insolvency and Bankruptcy Code, 2016.Citing the case of Ghanashyam Mishra and Sons Pvt. Ltd. v. Edelweiss Asset Reconstruction Company Ltd. 9 SCC 657, which held that all claims …

Income Tax Department Cannot Attach Properties Indefinitely Without Pursuing Steps To Resolve Matter: Delhi High Court
2 weeks, 5 days ago

Income Tax Department Cannot Attach Properties Indefinitely Without Pursuing Steps To Resolve Matter: Delhi High Court

Live Law  

The Delhi High Court has held that the Income Tax Department cannot, suspecting escapement of tax on income by an assessee, indefinitely attach its properties without taking further steps to resolve the matter. Single judge Justice Sachin Datta observed that Section 222 of the Income Tax Act, 1961 which empowers the Tax Recovery Officer to proceed with “attachment and sale …

[S.292B Income Tax Act] Inadvertent Mistakes In Reassessment Can Be Saved But Assessment Order Overlooking Apparent Error Cannot: Delhi HC
3 weeks, 5 days ago

[S.292B Income Tax Act] Inadvertent Mistakes In Reassessment Can Be Saved But Assessment Order Overlooking Apparent Error Cannot: Delhi HC

Live Law  

The Delhi High Court has made it clear that Section 292B of the Income Tax Act, 1961 cannot be used to save an assessment order passed by overlooking errors apparent on face of the record. A division bench of Chief Justice Devender Kumar Upadhyay and Justice Tushar Rao Gedela said while the provision would save reassessment notice which inadvertently furnished …

AO Becomes 'Functus Officio' After Closure Of Assessment, Must Put Relevant Incriminating Material To Assessee To Re-Confer Jurisdiction: Delhi HC
1 month ago

AO Becomes 'Functus Officio' After Closure Of Assessment, Must Put Relevant Incriminating Material To Assessee To Re-Confer Jurisdiction: Delhi HC

Live Law  

The Delhi High Court has made it clear that after the closure of assessment proceedings, the Assessing Officer becomes 'functus officio' and to re-confer jurisdiction upon the AO to initiate re-assessment proceedings, relevant incriminating material ought to be put to the assessee. A division bench of Chief Justice Devendra Kumar Upadhyaya and Justice Tushar Rao Gedela made the observation while …

What Is The Time Period Surviving U/S 149 Of Income Tax Act For Issuing Reassessment Notices: Delhi High Court Explains
1 month, 3 weeks ago

What Is The Time Period Surviving U/S 149 Of Income Tax Act For Issuing Reassessment Notices: Delhi High Court Explains

Live Law  

The Delhi High Court has interpreted the Supreme Court's decision in Union of India v. Rajeev Bansal to elucidate the time period surviving under Section 149 of the Income Tax Act, 1961 for issuing reassessment notices. Further, the period between the date of issuance of the impugned reassessment notices up to the date of the decision rendered by the Supreme …

Date Of Assessment Order Recommending Penalty For Accepting Cash Above ₹2 Lakh Not Relevant For Determining Limitation U/S 275 Of Income Tax Act: Delhi HC
1 month, 3 weeks ago

Date Of Assessment Order Recommending Penalty For Accepting Cash Above ₹2 Lakh Not Relevant For Determining Limitation U/S 275 Of Income Tax Act: Delhi HC

Live Law  

The Delhi High Court has held that the date of the assessment order, wherein an Assessing Officer recommended separate penalty proceedings against the assessee under Section 271DA of the Income Tax Act, 1961 for accepting more than ₹2 lakh in cash, is not relevant for determining the limitation period under Section 275. A division bench of Acting Chief Justice Vibhu …

Department Cannot Invoke Extended Period Of Limitation Merely Because Returns Were Self-Assessed: CESTAT
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1 month, 3 weeks ago

Department Cannot Invoke Extended Period Of Limitation Merely Because Returns Were Self-Assessed: CESTAT

Live Law  

The New Delhi Bench of Customs, Excise, and Service Tax Appellate Tribunal has stated that the department cannot invoke the extended period of limitation merely because the returns were self-assessed. The suppression has to be with an intent to evade payment of service tax and for this purpose the show cause notice must specifically allege why the asseessee has suppressed …

Time Spent To Defend Reassessment Notice Issued Without Following Procedure Doesn't Extend Limitation For Revenue When Issuing Fresh Notice: Delhi HC
1 month, 3 weeks ago

Time Spent To Defend Reassessment Notice Issued Without Following Procedure Doesn't Extend Limitation For Revenue When Issuing Fresh Notice: Delhi HC

Live Law  

The Delhi High Court has held that if the Revenue issues a reassessment notice to an assessee under Section 148 of the Income Tax Act, 1961 without following due procedure, it cannot later issue fresh reassessment notice beyond the prescribed period, claiming that time spent on earlier litigation is to be excluded for the purposes of computing limitation. A division …

Briefing Standing Counsel, Obtaining Approvals From Officials Not 'Sufficient Cause' For Condoning Delay In Filing Appeal: Delhi High Court
2 months ago

Briefing Standing Counsel, Obtaining Approvals From Officials Not 'Sufficient Cause' For Condoning Delay In Filing Appeal: Delhi High Court

Live Law  

While rejecting an appeal moved by Delhi Government's Directorate of Education, the Delhi High Court has ruled that obtaining approvals from officials of its departments and briefing the standing counsel are not “sufficient cause” for application of condonation of delay under Section 5 of the Limitation Act. “In any event, in our considered view the aforesaid plea taken by the …

Tax Weekly Round-Up: January 13 - January 19, 2025
2 months, 1 week ago

Tax Weekly Round-Up: January 13 - January 19, 2025

Live Law  

SUPREME COURT 'Will Pull You Up' : Supreme Court Asks GST Department To Rectify Issues Over Fake Invoices, Asks How Genuine Purchasers Are Liable The Supreme Court on Wednesday flagged a recurring problem in GST matters whereby genuine purchasers who paid Goods and Services Tax face issues because their suppliers raised fictitious bills to evade crediting the GST to the …

If Assessee Produces Accounts, AO Must Be Satisfied That Accommodation Entries Exist Before Proceeding U/S 148 Of Income Tax Act: Delhi HC
Trending News
2 months, 1 week ago

If Assessee Produces Accounts, AO Must Be Satisfied That Accommodation Entries Exist Before Proceeding U/S 148 Of Income Tax Act: Delhi HC

Live Law  

The Delhi High Court has held that an Assessing Officer is required to be satisfied that accommodation entries as alleged in show cause notice under Section 148A of the Income Tax Act 1961 exist, particularly where the assessee produces its accounts. Clearly, the AO is required to be satisfied that such entries exists particularly where the petitioner had produced its …

Tax Weekly Round-Up: 6th January - 12th January 2025
2 months, 1 week ago

Tax Weekly Round-Up: 6th January - 12th January 2025

Live Law  

SUPREME COURT Reduction In Share Capital Amounts To Transfer Of Capital Asset Under Income Tax Act : Supreme Court Case Name: PRINCIPAL COMMISSIONER OF INCOME TAX-4 & ANR v. M/S. : While directing that the order under Section 73 of the Goods and Service Tax Act, 2017 uploaded in the “Additional Notices and Tabs” on the GST portal be treated …

Income Tax Act | Reassessment Notice To Merged Entity U/S 148A(d) Not Invalid Merely Because SCN Was Issued In Name Of Ceased Entity: Delhi HC
2 months, 2 weeks ago

Income Tax Act | Reassessment Notice To Merged Entity U/S 148A(d) Not Invalid Merely Because SCN Was Issued In Name Of Ceased Entity: Delhi HC

Live Law  

The Delhi High Court has made it clear that merely because notice under Section 148A of the Income Tax Act, 1961 is issued in the name of an amalgamating company which had ceased to exist, subsequent notice issued under Section 148A in the name of merged entity cannot be declared invalid. Given the nature of the proceedings under Section 148A …

Income Tax Dept Can Invoke S.159 When Reassessment Notice Was Issued During Lifetime Of Deceased Assessee: Delhi HC
2 months, 2 weeks ago

Income Tax Dept Can Invoke S.159 When Reassessment Notice Was Issued During Lifetime Of Deceased Assessee: Delhi HC

Live Law  

The Delhi High Court has held that Section 159 of the Income Tax Act can be invoked to proceed against the legal representative of an assessee, only in cases where the reassessment notice was issued to the assessee during his lifetime, not after. At the outset, the division bench of Justices Yashwant Varma and Dharmesh Sharma noted that “Section 159 …

Reassessment U/S 150 Of Income Tax Act Can't Be Initiated On Mere 'Incidental' Findings Of Appellate Authority: Delhi High Court
2 months, 3 weeks ago

Reassessment U/S 150 Of Income Tax Act Can't Be Initiated On Mere 'Incidental' Findings Of Appellate Authority: Delhi High Court

Live Law  

The Delhi High Court has held that Section 150 of the Income Tax Act, 1961 can be invoked for reassessment only to give effect to a 'conclusive finding' by an appellate authority regarding escapement of income by an assessee. Both terms demand a direct and substantive nexus to the matter under adjudication and cannot extend to incidental or ancillary conclusions.” …

Designated Authority Under Direct Tax Vivad Se Vishwas Act Cannot Reopen Assessment After Issuance Of Final Certificate: Delhi HC Reiterates
2 months, 3 weeks ago

Designated Authority Under Direct Tax Vivad Se Vishwas Act Cannot Reopen Assessment After Issuance Of Final Certificate: Delhi HC Reiterates

Live Law  

The Delhi High Court has reiterated that a designated authority under the Direct Tax Vivad Se Vishwas Act, 2020 cannot reopen an assessment after a final certificate is issued under Section 5 of the Act and all disputes with regard to the 'tax arrear' stand concluded. A division bench of Acting Chief Justice Vibhu Bakhru and Justice Tushar Rao Gedela …

Delay In Filing Certified Copy Of Impugned Order Doesn't Render Appeal Filed Electronically U/S 107 CGST Act Time-Barred: Delhi HC
2 months, 3 weeks ago

Delay In Filing Certified Copy Of Impugned Order Doesn't Render Appeal Filed Electronically U/S 107 CGST Act Time-Barred: Delhi HC

Live Law  

The Delhi High Court has held that delay in filing certified copy of impugned order in an appeal preferred by Assessee under Section 107 of the Central Goods and Services Tax Act, 2017 would not render the appeal time-barred, if it was filed online within prescribed time. Thereafter, under Rule 108 of CGST Rules, certified copy of the decision could …

Missed income tax section 87A rebate? Here's your chance to claim it for FY 2023-24
Trending News
2 months, 3 weeks ago

Missed income tax section 87A rebate? Here's your chance to claim it for FY 2023-24

India Today  

The Income Tax Department has introduced significant relief for taxpayers eligible for the Section 87A rebate for FY 2023-24 who were previously unable to claim it. Announced late on December 31, 2024, via the ITR e-filing portal, the department confirmed that eligible taxpayers would soon be able to file revised or belated ITRs through the ITR filing utility or online …

Phrase "Where It Is Possible To Do" U/S 73(4B) Of Finance Act Doesn't Make Timeline To Determine Service Tax Dues 'Suggestive': Delhi HC
2 months, 3 weeks ago

Phrase "Where It Is Possible To Do" U/S 73(4B) Of Finance Act Doesn't Make Timeline To Determine Service Tax Dues 'Suggestive': Delhi HC

Live Law  

The Delhi High Court has held that the usage of expression "where it is possible to do so" doesn't make the timeline stipulated under Section 73 of the Finance Act, 1994 to determine service tax dues 'suggestive' in nature. While there cannot be denying that the taxation forms the backbone of a nation's economy, any inordinate delay by the Revenue …

Belated Filing Of Form 9A Is Not Attributable To Trust: Bombay HC Allows Exemption U/S 11 After Condoning Delay Under IT Act
2 months, 3 weeks ago

Belated Filing Of Form 9A Is Not Attributable To Trust: Bombay HC Allows Exemption U/S 11 After Condoning Delay Under IT Act

Live Law  

The Bombay High Court held that bonafide delay in filing Form 9A on part of trust, has to be construed as procedural lapse and shall be condoned by exercising powers u/s 119 of Income tax Act. The Division Bench of Justice G S Kulkarni and Justice Advait M Sethna observed that that the jurisdictional AO completely lost sight of the …

Assessment Pending Prior To Resolution Cannot Be Quantified After Approval Of Resolution Plan: Allahabad High Court
3 months ago

Assessment Pending Prior To Resolution Cannot Be Quantified After Approval Of Resolution Plan: Allahabad High Court

Live Law  

The Allahabad High Court has held that the resolution applicant cannot be burdened with new claims after approval of a resolution plan. Upon approval of the resolution plan on 02.02.2021, the Department passed an assessment order dated 28.04.2021 under Section 144 read with 144B of the Income Tax Act, 1961. High Court Verdict In Uttam Galva Metallics Ltd. and Mr. …

S.144C IT Act | AO Not Having Info About Pending Objections Before Dispute Resolution Panel No Grounds To Sustain Final Assessment Order: Delhi HC
3 months, 1 week ago

S.144C IT Act | AO Not Having Info About Pending Objections Before Dispute Resolution Panel No Grounds To Sustain Final Assessment Order: Delhi HC

Live Law  

The Delhi High Court has made it clear that a Final Assessment order passed by the Income Tax Authorities under Section 143 of the Income Tax Act, 1961 is not sustainable, if it is passed in ignorance of pending objections before the Dispute Resolution Panel. It said, “.notwithstanding the lack of information with the AO, if an objection has been …

SC's Judgement In Abhisar Buildwell Case Doesn't Permit Reopening Of Assessments Beyond Limitation Period U/S 149(1) Of IT Act: Delhi HC
3 months, 1 week ago

SC's Judgement In Abhisar Buildwell Case Doesn't Permit Reopening Of Assessments Beyond Limitation Period U/S 149(1) Of IT Act: Delhi HC

Live Law  

The Delhi High Court has reiterated that the Supreme Court's judgment in Abhisar Buildwell does not permit reopening of assessments under Section 147/148 of the Income Tax Act, 1961 beyond the period stipulated under Section 149. It relied on Principal Commissioner of Income Tax, Central-3 v. Abhisar Buildwell Private Limited to contend that in cases where the proceedings under Section …

Tax Weekly Roundup: November 18 - November 24, 2024
4 months ago

Tax Weekly Roundup: November 18 - November 24, 2024

Live Law  

SUPREME COURT Mobile Towers & Pre-Fabricated Buildings Moveable Properties, Qualify As 'Capital Goods' For CENVAT Credit : Supreme Court Case title: M/S BHARTI AIRTEL LTD. v. THE COMMISSIONER OF CENTRAL EXCISE, PUNE Case no. The Court also found substance in State's argument that part of revenue is lost when vehicle is purchased from outside the State and therefore, it held, …

Tax Weekly Roundup: November 18 - November 24, 2024
4 months ago

Tax Weekly Roundup: November 18 - November 24, 2024

Live Law  

SUPREME COURT Mobile Towers & Pre-Fabricated Buildings Moveable Properties, Qualify As 'Capital Goods' For CENVAT Credit : Supreme Court Case title: M/S BHARTI AIRTEL LTD. v. THE COMMISSIONER OF CENTRAL EXCISE, PUNE Case no. The Court also found substance in State's argument that part of revenue is lost when vehicle is purchased from outside the State and therefore, it held, …

Recourse To Section 147 Of Income Tax Act Not Barred In Cases Where Assessing Officer Is Empowered To Proceed U/S 153C: Delhi High Court
4 months ago

Recourse To Section 147 Of Income Tax Act Not Barred In Cases Where Assessing Officer Is Empowered To Proceed U/S 153C: Delhi High Court

Live Law  

S.153C Income Tax Act doesn't bar AO's jurisdiction to reopen assessment u/S 147 when information against assessee is received from search conducted on another person: Delhi High CourtThe Delhi High Court has held that Section 153C of the Income Tax Act, 1961 does not by itself preclude an Assessing Officer from reopening assessments under Section 147/148 of the Act, on …

When Is Action For Imposition Of Penalty 'Initiated' U/S 271C Of Income Tax Act For Failure To Deduct Tax At Source: Delhi HC Explains
Trending News
4 months, 1 week ago

When Is Action For Imposition Of Penalty 'Initiated' U/S 271C Of Income Tax Act For Failure To Deduct Tax At Source: Delhi HC Explains

Live Law  

The Delhi High Court recently explained when an action for imposition of penalty under Section 271C of the Income Tax Act, 1961 can be said to have been “initiated”. At the outset, the High Court noted that when a penalty proceeding can be stated to be initiated is squarely covered in favour of the assessee by Principal Commissioner of Income …

Mistake On Part Of AO Resulting In Under Assessment Of Income No Ground To Re-Open Assessment U/S 147 Of Income Tax Act: Delhi HC
4 months, 2 weeks ago

Mistake On Part Of AO Resulting In Under Assessment Of Income No Ground To Re-Open Assessment U/S 147 Of Income Tax Act: Delhi HC

Live Law  

The Delhi High Court has made it clear that once scrutiny assessment is held under Section 143 of the Income Tax Act but due to a mistake of the Assessing Officer there is under assessment of income, reopening assessment under Section 147 of the Income Tax Act, 1961 is not permissible. At the outset, the High Court observed that escapement …

JAO Cease To Have Jurisdiction To Issue Reassessment Notice Outside Faceless Assessment: Bombay High Court
8 months, 1 week ago

JAO Cease To Have Jurisdiction To Issue Reassessment Notice Outside Faceless Assessment: Bombay High Court

Live Law  

The Bombay High Court has held that the Jurisdictional Assessing Officer would cease to have jurisdiction to issue any notice under Section 148A and to take further actions under Section 148A and Section 148 of the Act, outside the faceless assessment.The bench of Justice G. S. Kulkarni and Justice Somasekhar Sundaresan has observed that the JAO did not have the …

Reassessment Notice Not Complying Section 148 Pre-Conditions Is Beyond Jurisdictional: Bombay High Court
8 months, 2 weeks ago

Reassessment Notice Not Complying Section 148 Pre-Conditions Is Beyond Jurisdictional: Bombay High Court

Live Law  

The Bombay High Court at Goa has held that the reassessment notice issued without complying with the pre-conditions mentioned in Section 148 of the Income Tax Act was beyond jurisdiction.The bench of Justice M. S. Karnik and Justice Valmiki Menezes has observed that the substantive rights of the original petitioner were governed by the provisions of the Portuguese Civil Code. …

Reassessment Notice Not Issued In Terms Of Procedure Prescribed Under Faceless Assessment; Karnataka High Court Grants Interim Stay
8 months, 2 weeks ago

Reassessment Notice Not Issued In Terms Of Procedure Prescribed Under Faceless Assessment; Karnataka High Court Grants Interim Stay

Live Law  

The Karnataka High Court has granted an interim stay on a reassessment notice issued under Section 148 of the Income Tax Act, 1961 which was not issued in terms of the procedure prescribed under Faceless Assessment.The bench of Justice Sunil Dutt Yadav has stayed the reassessment notice issued by the jurisdictional assessing officer under Section 148 of the Income Tax …

AO Can't Review Its Own Order: Delhi High Court
8 months, 3 weeks ago

AO Can't Review Its Own Order: Delhi High Court

Live Law  

The Delhi High Court has held that the Assessing Officer cannot review its own order.The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav has observed in the extract of the impugned corrigendum that no new material has been found by the department, which would warrant reopening the assessment. The bench of Justice Yashwant Varma and Justice Purushaindra Kumar …

Order Of ITSC Final And Conclusive For AY For Which Application Has Been Filed: Delhi High Court
8 months, 3 weeks ago

Order Of ITSC Final And Conclusive For AY For Which Application Has Been Filed: Delhi High Court

Live Law  

The Delhi High Court has held that the order of the Income Tax Settlement Commission is final and conclusive for a particular assessment year for which the application has been filed.The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav has observed that the order of the ITSC is deemed to be conclusive for all the matters pertaining to …

Unsettled Claims As Well As IBNR Would Amount To Contingent Liabilities; Section 37 Deduction Allowable: Delhi High Court
9 months, 2 weeks ago

Unsettled Claims As Well As IBNR Would Amount To Contingent Liabilities; Section 37 Deduction Allowable: Delhi High Court

Live Law  

The Delhi High Court has held that the deduction under Section 37 of the Income Tax Act is allowable on unsettled claims as well as Incurred But Not Reported, which would amount to contingent liabilities.The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav has observed that if the historical trend indicates that a large number of sophisticated goods …

Direct Tax Cases Weekly Round-Up: 02 To 08 June 2024
9 months, 2 weeks ago

Direct Tax Cases Weekly Round-Up: 02 To 08 June 2024

Live Law  

Delhi High Court Once Issue Of Arm's Length Remuneration Settled By TPO, Question Of Ascertaining Existence Of PE Is Academic; Delhi High Court Quashes Reassessment Proceedings Case Title: Progress Rail Locomotive Inc. Exemption Allowable On Donations Made By One Charitable Trust To Other Charitable Institutions For Temporary Period: Delhi High Court Case Title: Commissioner Of Income Tax Versus M/S Jamnalal …

Delhi HC Upholds Constitutional Validity Of Section 71(3A) Income Tax Act; Dismisses Petition Challenging Rs. 2 Lakh Cap On House Property Income Set-Off
9 months, 3 weeks ago

Delhi HC Upholds Constitutional Validity Of Section 71(3A) Income Tax Act; Dismisses Petition Challenging Rs. 2 Lakh Cap On House Property Income Set-Off

Live Law  

The Delhi High Court dismissed a writ petition challenging the constitutional validity of Section 31 of the Finance Act, 2017. Since the house was constructed using borrowed capital, under Section 24 of the Income Tax Act, the interest payable on such capital was eligible for deduction from the head “Income from house property.” The income chargeable under this head was …

Computation Of 6 Assessment Years For Search Assessments U/S 153C Starts From Date Of Receiving Seized Documents: ITAT
9 months, 3 weeks ago

Computation Of 6 Assessment Years For Search Assessments U/S 153C Starts From Date Of Receiving Seized Documents: ITAT

Live Law  

The Delhi Bench of Income Tax Appellate Tribunal has held that the computation of six assessment years for search assessments under Section 153C of the Income Tax Act starts from the date of receiving seized documents.The bench of Saktijit Dey and Naveen Chandra has relied on the decision of the Supreme Court in the case of CIT vs. Jasjit Singh,. …

[Income Tax Act] Supreme Court Decision In UOI v. Ashish Agarwal Applicable To Parties Who Challenged Notice U/S 148: Allahabad High Court
11 months, 1 week ago

[Income Tax Act] Supreme Court Decision In UOI v. Ashish Agarwal Applicable To Parties Who Challenged Notice U/S 148: Allahabad High Court

Live Law  

The Allahabad High Court has held that Supreme Court in Union of India v. Ashish Agarwal had not issued a general mandamus quashing all notices issued under Section 148 of the Income Tax Act, 1961. In Union of India v. Ashish Agarwal, the Union Government had challenged the order of the Allahabad High Court quashing the reassessment notices issued by …

IT serves Congress notice of over Rs 1,800 crore tax after Delhi HC rejects its plea on reassessment
11 months, 3 weeks ago

IT serves Congress notice of over Rs 1,800 crore tax after Delhi HC rejects its plea on reassessment

India TV News  

IT serves Congress notice of over Rs 1,800 crore tax after Delhi HC rejects its plea on reassessment A bench of Justices Yashwant Varma and Purushaindra Kumar Kaurav said the pleas were dismissed in terms of its earlier decision refusing to interfere with the opening of reassessment for another period. The Income Tax department has served a fresh notice of …

Congress’ plea against tax re-assessment by I-T authorities dismissed by Delhi High Court
11 months, 3 weeks ago

Congress’ plea against tax re-assessment by I-T authorities dismissed by Delhi High Court

The Hindu  

The Delhi High Court on Thursday rejected the Congress’s plea challenging the initiation of tax reassessment proceedings against it for assessment years 2017 to 2021 by tax authorities. On March 22, the court had rejected the Congress’s plea challenging initiation of reassessment proceedings pertaining to assessment years 2014-15 to 2016-17. While rejecting the plea, the High Court said the Income …

Delhi High Court rejects Congress’s plea against tax reassessment
1 year ago

Delhi High Court rejects Congress’s plea against tax reassessment

The Hindu  

In a huge setback to the Congress ahead of the Lok Sabha elections, the Delhi High Court on Friday rejected its pleas challenging the reassessment proceedings initiated against it by the Income Tax department. The Congress has challenged initiation of proceedings under Section 153C of the Income Tax Act for assessment pertaining to assessment years 2014-15 to 2016-17. The I-T …

Delhi HC reserves order on Congress’s pleas against tax reassessment proceedings
1 year ago

Delhi HC reserves order on Congress’s pleas against tax reassessment proceedings

The Hindu  

The Delhi High Court on Wednesday reserved its verdict on the Congress’s plea against the tax reassessment proceedings initiated against it by the Income Tax department for three successive years from 2014-15. Senior advocate Abhishek Singhvi, representing the Congress, said the tax reassessment proceedings are barred by limitation and the I-T department could have gone back to a maximum of …

Congress Approaches Delhi HC Against Tax Re-assessment Proceedings
1 year ago

Congress Approaches Delhi HC Against Tax Re-assessment Proceedings

News 18  

The Congress on Wednesday approached the Delhi High Court against tax re-assessment proceedings against it by the authorities. The matter was mentioned by the counsel for the political party before a bench of Acting Chief Justice Manmohan and Justice Manmeet PS Arora which agreed to list it for hearing on Thursday. Recently, the high court had refused to interfere with …

Once Reassessment Framed By AO Is Not Sustainable,Order U/s 263 Seeking To Revise Reassessment Is Not Acceptable: Delhi ITAT
1 year ago

Once Reassessment Framed By AO Is Not Sustainable,Order U/s 263 Seeking To Revise Reassessment Is Not Acceptable: Delhi ITAT

Live Law  

While allowing the appeal of assessee in respect of the fact that whether the PCIT had validly assumed his revision jurisdiction u/s 263 of the Income Tax Act, 1961, both in law and on facts, the New Delhi ITAT held that the PCIT erred in assumption of jurisdiction u/s 263 of the Income Tax Act, 1961. The Bench of the …

Filing Return By Due Date U/s 139 Is Mandatory For Political Party To Claim Exemption U/s 13A: Delhi ITAT Refuses To Stay Recovery Against Congress Party
1 year ago

Filing Return By Due Date U/s 139 Is Mandatory For Political Party To Claim Exemption U/s 13A: Delhi ITAT Refuses To Stay Recovery Against Congress Party

Live Law  

While holding the argument that an assessee is entitled to a stay on the recovery proceedings on payment of 20% of the demand during the pendency of appeal before the Tribunal, as too general, the New Delhi ITAT dismisses the stay application of Indian National Congress treating it as meritless. At the same time, on the merits of the matter, …

Bombay High Court Quashes Reassessment Notices Issued Against Godrej For Beyond Limitation Period
1 year ago

Bombay High Court Quashes Reassessment Notices Issued Against Godrej For Beyond Limitation Period

Live Law  

The Bombay High Court has quashed the reassessment notices issued against Godrej because the notice was issued beyond the limitation period.The bench of Justice K. R. Shriram and Justice Neela Gokhale has observed that the validity of a notice must be judged on the basis of the law existing as on the date on which the notice is issued under …

Reopening Notice Issued U/s 148 Merits To Be Quashed If Barred By Limitation Period Prescribed U/s 149: Jharkhand High Court
1 year, 1 month ago

Reopening Notice Issued U/s 148 Merits To Be Quashed If Barred By Limitation Period Prescribed U/s 149: Jharkhand High Court

Live Law  

Finding that the notice issued u/s 148 is barred by the limitation period prescribed u/s 149 of the Income tax Act, 1961, the Jharkhand High Court ruled that the very initiation of reassessment proceeding is wholly without jurisdiction. The Bench found that the Department has issued the Reassessment Notice dated July 21, 2022, u/s 148 pursuant to passing of impugned …

Period Spent In Disposal Of Appeal Before CESTAT Shall Not Be Counted Towards Period Stipulated Under Section 28 (9) Of Customs Act: Delhi High Court
1 year, 1 month ago

Period Spent In Disposal Of Appeal Before CESTAT Shall Not Be Counted Towards Period Stipulated Under Section 28 (9) Of Customs Act: Delhi High Court

Live Law  

The Delhi High Court has held that the period spent in the disposal of the appeal before the CESTAT, i.e., between the filing and the final order being passed, shall not be counted towards the period stipulated under Section 28 of the Customs Act.The bench of Justice Sanjeev Sachdeva and Justice Ravinder Dudeja has observed that the Tribunal has already …

Assessment Order Passed Beyond Sec 144C(4) Is Time Barred If Objections To Draft Order Were Filed After Expiry Of Limitation As Per Sec 144C(2): Delhi ITAT
1 year, 2 months ago

Assessment Order Passed Beyond Sec 144C(4) Is Time Barred If Objections To Draft Order Were Filed After Expiry Of Limitation As Per Sec 144C(2): Delhi ITAT

Live Law  

Noticing that the draft assessment order was passed on Mar 4, 2022 and the assessee filed objection before the DRP on Apr 6, 2022 which was beyond the due date provided for filing objection, the Delhi ITAT held the assessment order to be time-barred being passed beyond Section 144C of Income tax Act, 1961 time-limit. Since the final Assessment Order …

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