[Income Tax] Allahabad HC To Examine Whether Proceedings U/S 148A(b) Initiated Prior To 01.09.2024 Would Be Saved After Enforcement Of The Finance (No.2) Act, 2024
21 hours, 38 minutes ago

[Income Tax] Allahabad HC To Examine Whether Proceedings U/S 148A(b) Initiated Prior To 01.09.2024 Would Be Saved After Enforcement Of The Finance (No.2) Act, 2024

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The Lucknow Bench of the Allahabad High Court has sought state response on the question of maintainability of proceedings under Section 148A of the Income Tax Act initiated prior to 01.09.2024, if at all, would be saved after enforcement of the Finance Act, 2024 w.e.f. 01.09.2024 especially in view of sub-Section- of Section 152 of the Income Tax Act, 1961 which has been inserted by the said Finance Act, 2024. Newly inserted Sub-section of Section 152 provides that where notice under Section 148 ) and order under Section 148A has been issued prior to 01.09.2024, the same shall be governed as per the provisions of sections 147 to 151, as they stood immediately before the commencement of the Finance Act, 2024. Petitioner received a notice dated 27.03.2024 under Section 148A of the Income Tax Act.

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History of this topic

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

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

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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.” …

Assessment Pending Prior To Resolution Cannot Be Quantified After Approval Of Resolution Plan: Allahabad High Court
3 weeks, 4 days ago

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

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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. …

[Income Tax] No Substantial Question Of Law Arises If Perversity Cannot Be Shown In Order Passed By Tribunal: Allahabad High Court
1 month, 1 week ago

[Income Tax] No Substantial Question Of Law Arises If Perversity Cannot Be Shown In Order Passed By Tribunal: Allahabad High Court

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The Allahabad High Court has held that no substantial question of law arises in a case where no perversity can be shown in the order passed by the Income Tax Tribunal in appeal under Section 260A of the Income Tax Act, 1961. had passed orders without inquiries or verification and thus the present situation stood covered under Explanation 2 to …

Appeals U/S 260A Of Income Tax Act Not Sustainable In Absence Of Perversity In Tribunal's Fact Finding: Allahabad High Court
1 month, 1 week ago

Appeals U/S 260A Of Income Tax Act Not Sustainable In Absence Of Perversity In Tribunal's Fact Finding: Allahabad High Court

Live Law  

While entertaining an Income Tax Appeal, the Allahabad High Court has held that an appeal under Section 260A of the Income Tax Act, 1961 cannot be sustained without establishing a perversity with the fact finding of the Tribunal. A catena of Supreme Court judgments have concluded that in relation to facts, no substantial question of law would arise unless the …

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
2 months 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 …

High Court Rejects Income Tax Appeal, Finds No Escapement of Rs. 3.25 Crore
2 months, 4 weeks ago

High Court Rejects Income Tax Appeal, Finds No Escapement of Rs. 3.25 Crore

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The Gujarat High Court has ruled that there cannot be any income escapement by the assessee if there is no unexplained amount in the bank statement on record. The court observed that the reason given by the assessing officer for alleged escapement of Rs.3,25,00,000/- is not sustainable since there is no unexplained amount in the bank statement on record since …

Mistake In Calculation Of Tax As Per Sec 115BBE Can Be Rectified U/s 154 And Not U/s 263: Ahmedabad ITAT Quashes Revision Made By PCIT
4 months, 4 weeks ago

Mistake In Calculation Of Tax As Per Sec 115BBE Can Be Rectified U/s 154 And Not U/s 263: Ahmedabad ITAT Quashes Revision Made By PCIT

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Finding that all the additions made by the Assessing Officer u/s 68 r/w/s 115BBE are in consonance with the Income Tax Statute, the Ahmedabad ITAT quashed the revisional exercise of power by the PCIT u/s 263. The power under section 263 of the Income tax Act can be exercised where the order of the Assessing Officer is erroneous and prejudicial …

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
7 months, 1 week 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 …

S.144B(6) Income Tax Act | If Assessee “Requests” Then Opportunity Of Personal Hearing Is Mandatory, Not Optional: Allahabad High Court
8 months ago

S.144B(6) Income Tax Act | If Assessee “Requests” Then Opportunity Of Personal Hearing Is Mandatory, Not Optional: Allahabad High Court

Live Law  

The Allahabad High Court has held that opportunity of personal hearing is mandatory under Section 144B and of the Income Tax Act, 1961 when show cause notice is issued regarding why assessment may not be completed as proposed. The bench comprising of Justice Saumitra Dayal Singh and Justice Donadi Ramesh held that “the word "request" used under Section 144B and …

Allahabad High Court Monthly Tax Digest: April 2024
8 months, 1 week ago

Allahabad High Court Monthly Tax Digest: April 2024

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INDEX M/S United Spirits Limited v. State Of U.P. S.16 UPVAT Act | Invoices, RTGS Details Not Sufficient For Deciding ITC Claim, Transportation Details Must Be Produced: Allahabad High Court Case Title: Commissioner, Commercial Tax v. S/S Soma Enterprises Ltd Case Citation: 2024 LiveLaw 225 Placing reliance on the judgment of the Supreme Court in State of Karnataka vs. M/s …

[Income Tax Act] Supreme Court Decision In UOI v. Ashish Agarwal Applicable To Parties Who Challenged Notice U/S 148: Allahabad High Court
8 months, 3 weeks 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 …

S.132B(1)(i) Income Tax Act | Power Of Assessing Authority To Decide Application For Release Of Seized Assets Not Automatically Abated After 120 Days: Allahabad HC
8 months, 3 weeks ago

S.132B(1)(i) Income Tax Act | Power Of Assessing Authority To Decide Application For Release Of Seized Assets Not Automatically Abated After 120 Days: Allahabad HC

Live Law  

The Allahabad High Court has held that the jurisdiction of the Assessing Authority to decide the application for release of seized assets under Section 132B does not abate after a period of 120 days from the date on which the last of the authorizations for search under section 132 or for requisition under section 132-A was executed. The Court held …

Direct Tax Cases Weekly Round-Up: 17 To 23 March 2024
9 months, 3 weeks ago

Direct Tax Cases Weekly Round-Up: 17 To 23 March 2024

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Delhi High Court Case Title: National Association Of Software And Services Companies Versus Deputy Commissioner Of Income Tax Circle 2 The Delhi High Court has held that a 20% pre-deposit demand is not a precondition for consideration of a stay application during the pendency of the first appeal. Case Title: The Salem Urban Co-operative Bank limited Versus The Income Tax …

Procedure U/S 148A Need Not Be Complied With Before Issuing Reassessment Notices: Kerala High Court
9 months, 3 weeks ago

Procedure U/S 148A Need Not Be Complied With Before Issuing Reassessment Notices: Kerala High Court

Live Law  

The Kerala High Court has held that the procedure contemplated by the provisions of Section 148A of the Income Tax Act, 1961, need not be complied with before issuing notices under Section 148 of the Income Tax Act, 1961.The bench of Justice Gopinath P. has observed that when an item or cash, as in this case, is produced before a …

AO Competent To Invoke Section 154 Jurisdiction If Glaring Mistake Of Fact/Law Is Committed While Passing Assessment Order: Madras High Court
10 months ago

AO Competent To Invoke Section 154 Jurisdiction If Glaring Mistake Of Fact/Law Is Committed While Passing Assessment Order: Madras High Court

Live Law  

The Madras High Court has held that the Assessing Officer is not incompetent to invoke the jurisdiction under Section 154 of the Income Tax Act, 1961, if such officer had committed a glaring mistake of fact or law while passing the assessment order.The bench of Justice C. Saravanan has observed that the meaning of the expression “error apparent on the …

Direct Tax Cases Monthly Round Up: February 2024
10 months, 1 week ago

Direct Tax Cases Monthly Round Up: February 2024

Live Law  

Supreme Court Case Title: Asst. Delhi High Court Case Title: The Commissioner Of Income Tax - International Taxation Versus S.A.Chitra Ventures Ltd. Citation: 2024 LiveLaw 211 The Delhi High Court has held that the AO, under Section 144C of the Income Tax Act, would have no jurisdiction to pass a draft assessment order in the absence of "any variation in …

Allahabad High Court Weekly Roundup: February 12 - February 18, 2024
10 months, 3 weeks ago

Allahabad High Court Weekly Roundup: February 12 - February 18, 2024

Live Law  

NOMINAL INDEX Smt Usha Verma And Another vs. State Of U.P. And 2 Others 2024 LiveLaw 96 Visible Alpha Solutions India Private Limited vs. Commissioner, CGST Appeals, Noida And Another 2024 LiveLaw 97 2024 LiveLaw 98 ORDERS/JUDGMENTS OF THE WEEK Writ Petition Has To Be Drafted Carefully, Reliefs Sought Must Be Supported By Pleadings: Allahabad High Court Rejects Claim For …

S.148 Income Tax| For Assumption Of Jurisdiction Satisfaction Needs To Be Bonafide, No Need To Record “Reason To Believe”: Allahabad High Court
11 months, 1 week ago

S.148 Income Tax| For Assumption Of Jurisdiction Satisfaction Needs To Be Bonafide, No Need To Record “Reason To Believe”: Allahabad High Court

Live Law  

The Allahabad High Court has held that under the new law, it is not necessary for the assessing authority to record “reasons to believe”. The Court held that the assessing authorities are only required to record bonafide satisfaction regarding escapement of income for assuming jurisdiction under the Income Tax Act, 1961. A bonafide satisfaction reached as to escapement of income …

Section 148A(b) Notice Not Specifically Served On Assessee: Punjab And Haryana High Court Imposes Rs. 10K Cost On Dept.
1 year, 1 month ago

Section 148A(b) Notice Not Specifically Served On Assessee: Punjab And Haryana High Court Imposes Rs. 10K Cost On Dept.

Live Law  

The Punjab and Haryana High Court has imposed a cost of Rs. 10K on the income tax department and quashed the order under Section 148A of the Income Tax Act and the notice under Section 148 of the Income Tax Act.The bench of Justice G.S. Sandhawalia and Justice Lapita Banerji has observed that the notice under Section 148A of the …

Section 245C(5) Of Income Tax Act Is Read Down By Removing Retrospective Last Date Of 1st Feb 21 As 31st March 21: Madras High Court
1 year, 1 month ago

Section 245C(5) Of Income Tax Act Is Read Down By Removing Retrospective Last Date Of 1st Feb 21 As 31st March 21: Madras High Court

Live Law  

The Madras High Court has held that Section 245C of the Income Tax Act, 1961 is read down by removing the retrospective last date of the 1st February 2021, as the 31st March 2021.The bench of Chief Justice Sanjay V. Gangapurwala and Justice D. Bharatha Chakravarthy has observed that the Finance Act, 2021, was retrospective in nature. The Madras High …

Wrong Mention Of Section In Title Of Application Can’t Be Held Against Assesee: Allahabad High Court
1 year, 3 months ago

Wrong Mention Of Section In Title Of Application Can’t Be Held Against Assesee: Allahabad High Court

Live Law  

The Allahabad High Court has held that based on the observations of the Tribunal, if a wrong Section is written in the title of the application, it will not take away the scope/ application of Rule 24 of the Income Tax Rules. Petitioner filed an application with the title “Application under section 254 of the Income Tax Act” which was …

Allahabad High Court Imposes 10K Cost On Income Tax Authority For Violation Of Principles Of Natural Justice
1 year, 4 months ago

Allahabad High Court Imposes 10K Cost On Income Tax Authority For Violation Of Principles Of Natural Justice

Live Law  

The Allahabad High Court on Wednesday imposed a cost of Rs. 10,000 to be paid by an erring officer of the Income Tax Department for violating the principles of natural justice while cancelling the earlier Assessment Order and initiating fresh proceedings under Section 263 of the Income Tax Act, 1961. Counsel for Petitioner contended that the impugned order was passed …

S. 148 Income Tax Act| Notice Without DIN, Not Invalid, If Assesee Responds To Manual Notices: Allahabad High Court
1 year, 5 months ago

S. 148 Income Tax Act| Notice Without DIN, Not Invalid, If Assesee Responds To Manual Notices: Allahabad High Court

Live Law  

The Allahabad High Court had held that mere non-issuance of notices with DIN will not render them invalid if the petitioner has otherwise participated in the proceedings based on manual notices. Petitioner challenged the re-assessment order on the ground that notice under Section 148 of the Income Tax Act, 1961 was issued manually in violation of the circular issued by …

Allahabad High Court Weekly Round-Up: July 24 - July 30
1 year, 5 months ago

Allahabad High Court Weekly Round-Up: July 24 - July 30

Live Law  

NOMINAL INDEX Shweta Punj vs. Union of India and 4 others 2023 LiveLaw 224 Manorama Kuchhal And Another vs. Brijesh Narain Singh D.M./Collector NIC Dist. Lucknow And Another 2023 LiveLaw 230 ORDERS/JUDGMENTS OF THE WEEK Allahabad High Court Dismisses Challenge To Appointment Of Commissioners Of Income-Tax Case Title: Shweta Punj vs. Union of India and 4 others 2023 LiveLaw 224 …

Reassessment Proceedings For AY 2013-14, 2014-15 Initiated After 1 April 2021 Have To Be Closed Irrespective Of Income Escaping Assessment: Allahabad High Court
1 year, 10 months ago

Reassessment Proceedings For AY 2013-14, 2014-15 Initiated After 1 April 2021 Have To Be Closed Irrespective Of Income Escaping Assessment: Allahabad High Court

Live Law  

The Allahabad High Court ruled that the Taxation and Other Laws Act, 2020 cannot be used to conduct the reassessment proceedings beyond March 30, 2021. The Enabling Act does not and could not save the pre-existing Sections 147, 148, and 151 of the Income Tax Act pertaining to reassessment, and no overriding effect could arise or be given to the …

Income Tax Act | Writ Petition Can Be Entertained To Examine If Conditions To Issue Section 148 Notice Are Satisfied : Supreme Court
2 years ago

Income Tax Act | Writ Petition Can Be Entertained To Examine If Conditions To Issue Section 148 Notice Are Satisfied : Supreme Court

Live Law  

The Supreme Court recently set aside an order of the Punjab and Haryana High Court which dismissed a writ petition filed by an assessee against a notice issued under Section 148A of the Income Tax Act 1961 for reopening assessment.The High Court had dismissed the writ petition on the ground of availability of alternative remedy. The Supreme Court recently set …

PCIT Failed To Recorded Satisfaction Under His Signature Prior To Issuance Of Reassessment Notice By AO: Allahabad High Court
2 years, 4 months ago

PCIT Failed To Recorded Satisfaction Under His Signature Prior To Issuance Of Reassessment Notice By AO: Allahabad High Court

Live Law  

The Allahabad High Court has held that the Principal Commissioner of Income Tax has not recorded satisfaction under his signature prior to the issuance of a reassessment notice by the Assessing Officer under Section 148 of the Act, 1961. The petitioner/assessee submitted that on the basis of an alleged digital approval under Section 151, the assessing officer issued notices to …

Tax Cases Monthly Round-Up: August 2022
2 years, 4 months ago

Tax Cases Monthly Round-Up: August 2022

Live Law  

Indirect Tax Supreme Court Pradeep Goyal vs Union of India Citation: 2022 LiveLaw 654 The Supreme Court has directed the GST Council to issue advisory / instructions / recommendations to the respective States regarding implementation of the system of electronic generation of a Document Identification Number in the indirect tax administration. Case Title: PCIT Versus Mamta Agarwal Citation: 2022 LiveLaw …

Explanation To Section 14A Of Income Tax Act Will Not Apply Retrospectively: Delhi High Court
2 years, 5 months ago

Explanation To Section 14A Of Income Tax Act Will Not Apply Retrospectively: Delhi High Court

Live Law  

The Delhi High Court has ruled that the Explanation to Section 14A of the Income Tax Act, 1961, added vide the Finance Act, 2022, cannot be presumed to be retrospective in nature since it is clarificatory in nature and alters the law as it stood earlier. The revenue department submitted before the High Court that the ITAT had relied on …

Assessment Can't Be Reopened On Mere Change Of Opinion Of AO: Bombay High Court
2 years, 7 months ago

Assessment Can't Be Reopened On Mere Change Of Opinion Of AO: Bombay High Court

Live Law  

The Bombay High Court, while quashing the reassessment notice, held that the assessment could not be reopened on a mere change of opinion of the Assessing Officer. Borkar observed that the reopening of assessment was merely on the basis of a change of opinion of the Assessing Officer from that held earlier during the course of assessment proceedings and this …

Taxation Relaxation Act Doesn't Sanction Applying Repealed Provisions : Madras HC Sets Aside Reassessment Notices U/S 148 Of Old Income Tax Act
2 years, 11 months ago

Taxation Relaxation Act Doesn't Sanction Applying Repealed Provisions : Madras HC Sets Aside Reassessment Notices U/S 148 Of Old Income Tax Act

Live Law  

The Madras High Court has recently set aside a number of reassessment notices issued under the 1961 Income Tax Act by iterating that the Taxation Relaxation Act, 2020 only extends the period of limitation and not the application of repealed provisions in light of the amended provisions effective from 1st April, 2021.The first bench of Acting Chief Justice Munishwar Nath …

'Even If Will Not Enforceable For Being Void, It Is Not Non-Est & Is Admissible Under Evidence Act S. 32(5) To Decide Pedigree': Allahabad HC [Read Judgment]
4 years, 6 months ago

'Even If Will Not Enforceable For Being Void, It Is Not Non-Est & Is Admissible Under Evidence Act S. 32(5) To Decide Pedigree': Allahabad HC [Read Judgment]

Live Law  

"Even if the Will is not enforceable for being void or may not be relevant under Section 32 of the Evidence Act, 1872 as a Will, it would still be admissible and relevant under Section 32 of the Act because the relevant recital in the Will is a statement in writing of the deceased and relates to the existence of …

Mere Change Of Opinion Not A Ground To Reopen Assessment Under Sec.147 Income Tax Act : Madras HC [Read Judgment]
5 years, 1 month ago

Mere Change Of Opinion Not A Ground To Reopen Assessment Under Sec.147 Income Tax Act : Madras HC [Read Judgment]

Live Law  

Reiterating that the mere change of opinion of the assessing officer is not a ground to re-open assessment under Section 147 Income Tax Act, the Madras High Court allowed a writ petition filed against the re-opening of assessment.The order was passed in the case City Union Bank Ltd vs The Assistant Commissioner of Income Tax and others by Justice G …

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