Reassessment Notices Issued After Elapse Of Six Years: Gujarat High Court Quashes Assessment
1 year, 9 months ago

Reassessment Notices Issued After Elapse Of Six Years: Gujarat High Court Quashes Assessment

Live Law  

The Gujarat High Court has held that the reassessment notices were issued after the lapse of six years and are therefore time-barred.The single bench of Justice Sonia Gokani has observed that the board's circulars and instructions are binding only on the departmental authorities and not on the court or the assessee.The petitioners/assessees challenged the reassessment notice dated July 26,. The Gujarat High Court has held that the reassessment notices were issued after the lapse of six years and are therefore time-barred. The Supreme Court directed that reassessment notices under Section 148 of the unamended Income Tax Act that were issued beyond April 1, 2021 be deemed to have been issued under Section 148A of the Income Tax Act as substituted by the Finance Act, 2021, and be construed as show cause notices in terms of Section 148A. The court held that CBDT could not have the power to extend the time period under the first proviso to Section 149 of the Income Tax Act.

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History of this topic

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
6 days, 22 hours 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 …

Department Can't Reopen Assessment If Limitation Period Expired Before Amendment Extending Timeline: Kerala High Court
1 month ago

Department Can't Reopen Assessment If Limitation Period Expired Before Amendment Extending Timeline: Kerala High Court

Live Law  

The Kerala High Court stated that the department cannot reopen an assessment that has already been settled by issuing a fresh notice if the period of limitation had expired before the date of the amendment extending the timeline for reopening. Jayakumar observed that “…….no doubt, in those cases where the erstwhile period of limitation of five years had already expired …

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
1 month 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 …

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
1 month, 1 week 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 ago

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

Live Law  

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, 1 week 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

Live Law  

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 …

JAO Cease To Have Jurisdiction To Issue Reassessment Notice Outside Faceless Assessment: Bombay High Court
5 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
5 months, 1 week 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
5 months, 1 week 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 …

Order Of ITSC Final And Conclusive For AY For Which Application Has Been Filed: Delhi High Court
5 months, 2 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 …

Absence Of Incriminating Materials, AO Not Empowered To Reopen Assessments In Block Period Of Six Years: Kerala High Court
6 months ago

Absence Of Incriminating Materials, AO Not Empowered To Reopen Assessments In Block Period Of Six Years: Kerala High Court

Live Law  

The Kerala High Court has held that based on the material obtained during the search, the Assessing Officer, who gets the jurisdiction to re-open the assessments, can do so in respect of the individual assessment years comprised in the block period of six years only if the material obtained during the search under Section 132 of the Income Tax Act, …

Direct Tax Cases Weekly Round-Up: 02 To 08 June 2024
6 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 …

[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 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 …

Direct Tax Cases Quarterly Digest 2024
8 months, 2 weeks ago

Direct Tax Cases Quarterly Digest 2024

Live Law  

Supreme Court Case Title: Herbicides India Limited vs ACIT 2024 LiveLaw 44 While setting aside the Rajasthan High Court orders, the Supreme Court restored the assessee's appeals by condoning the delay in filing the paper-book before High Court and observed that the assessee is entitled to have his appeals heard on merits. AO Lacks Jurisdiction To Pass Draft Assessment Order …

Assessment Can Be Reopened Based On Audit Objections Under New Reassessment Regime: Kerala High Court
8 months, 2 weeks ago

Assessment Can Be Reopened Based On Audit Objections Under New Reassessment Regime: Kerala High Court

Live Law  

The Kerala High Court has held that assessments can be reopened based on audit objections under a new reassessment regime.The bench of Justice Dinesh Kumar Singh has observed that the provisions have been drastically changed with effect from April 1, 2022, and the audit objection is one of the reasons for re-opening the assessment. The Kerala High Court has held …

Congress gets ₹1,700 crore I-T notice in fresh setback ahead of Lok Sabha elections
8 months, 3 weeks ago

Congress gets ₹1,700 crore I-T notice in fresh setback ahead of Lok Sabha elections

Hindustan Times  

Congress's financial woes have worsened ahead of the Lok Sabha elections with the tax authorities serving the grand old party a notice of around ₹1,700 crore, reported PTI hours after the Delhi high court dismissed the party's petition challenging the reassessment proceedings for four years. The income tax department served the notice of ₹1,700 crore including penalty and interest for …

Congress’ plea against tax re-assessment by I-T authorities dismissed by Delhi High Court
8 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
9 months 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 …

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

Congress Approaches Delhi HC Against Tax Re-assessment Proceedings
9 months 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
9 months, 1 week 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 …

S.5 Limitation Act Applies To Rectification Of Orders U/S 31 Of UP VAT Act: Allahabad High Court
9 months, 2 weeks ago

S.5 Limitation Act Applies To Rectification Of Orders U/S 31 Of UP VAT Act: Allahabad High Court

Live Law  

The Allahabad High Court has held that Section 5 of the Limitation Act will apply to rectification of orders passed by officer, authority, Tribunal or the High Court under Section 31 of the Uttar Pradesh Value Added Tax Act, 2008. Section 31 of the Uttar Pradesh Value Added Tax Act, 2008 provides that any officer, authority, Tribunal or the High …

Kerala High Court Directs Binoy Kodiyeri To File Income Tax Returns For Assessment Years 2015-22
9 months, 2 weeks ago

Kerala High Court Directs Binoy Kodiyeri To File Income Tax Returns For Assessment Years 2015-22

Live Law  

The Kerala High Court has disposed of the petition filed by Binoy Kodiyeri challenging the assessment orders issued to him by the Income Tax Department for a total of 7 assessment years from 2015-16 to 2021-22.Binoy Kodiyeri, son of CPM politician Kodiyeri Balakrishnan, had moved a plea before the High Court alleging that the procedure adopted by the IT Department …

Bombay High Court Quashes Reassessment Notices Issued Against Godrej For Beyond Limitation Period
9 months, 3 weeks 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
10 months 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 …

PCIT Can Grant Sanction U/s 151 For Issuing Reopening Notice U/s 148 Even After Expiry Of Four Years From End Of Relevant AY: Mumbai ITAT
10 months, 2 weeks ago

PCIT Can Grant Sanction U/s 151 For Issuing Reopening Notice U/s 148 Even After Expiry Of Four Years From End Of Relevant AY: Mumbai ITAT

Live Law  

The Mumbai ITAT recently reiterated that a notice can be issued u/s 148 of the Income Tax Act, 1961, even after the expiry of limitation period, if the sanction for same has been granted by the Principal Commissioner of Income Tax. Baskaran observed that “the sanction granted under section 151 of the Act was found to be improper as the …

Reopening Of Assessment Inspired From 'Review' & 'Change Of Opinion' By Subsequent AO Is Deprecated: Madras HC
11 months, 1 week ago

Reopening Of Assessment Inspired From 'Review' & 'Change Of Opinion' By Subsequent AO Is Deprecated: Madras HC

Live Law  

While setting aside the order disposing of assessee's objection for re-opening of assessment pursuant to the issue of notice u/s 148 of the Income tax Act, 1961 and the consequent reassessment order, the Madras High Court held that there is no scope for re-opening of the assessment, since the reasons cited for same was inspired from change of opinion of …

Delhi High Court Upholds Constitutional Validity Of Section 115BBE Of Income Tax Act
11 months, 3 weeks ago

Delhi High Court Upholds Constitutional Validity Of Section 115BBE Of Income Tax Act

Live Law  

The Delhi High Court has upheld the constitutional validity of Section 115BBE of the Income Tax Act.The bench of Acting Chief Justice Manmohan and Justice Mini Pushkarna has observed that Statutory Acts and their provisions are not to be declared unconstitutional on the fanciful theory that power would be exercised in an unrealistic fashion or in a vacuum or on …

Delhi High Court Quashes Income Tax Notice Issued Prior To Date Of Approval Of Resolution Plan
1 year ago

Delhi High Court Quashes Income Tax Notice Issued Prior To Date Of Approval Of Resolution Plan

Live Law  

The Delhi High Court has quashed the income tax notices and orders issued prior to the date of approval of the resolution plan.The bench of Justice Rajiv Shakdher and Justice Girish Kathpalia has observed the notices and orders pertaining to the income tax claims of the respondents or department pertaining to the period much prior to the date of approval …

Dept.’s Personal Opinion Not Tangible Material For Reopening Assessment: Calcutta High Court Quashes Reassessment
1 year ago

Dept.’s Personal Opinion Not Tangible Material For Reopening Assessment: Calcutta High Court Quashes Reassessment

Live Law  

The Calcutta High Court has quashed the reassessment order on the grounds that the department’s personal opinion is not tangible material for reopening the assessment.The bench of Chief Justice T. S. Sivagnanam and Justice Hiranmay Bhattacharyya has observed that unless glaring omissions are demonstrated or conditions precedent for exercise of the power to reopen assessment are not. The Calcutta High …

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 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 …

Reassessment Notice Severed At Old Address Despite Knowing Assessee’s New Address: Delhi High Court Quashes Assessment Order
1 year, 1 month ago

Reassessment Notice Severed At Old Address Despite Knowing Assessee’s New Address: Delhi High Court Quashes Assessment Order

Live Law  

The Delhi High Court has quashed the assessment order as the notice under Section 148 was improperly served as it was sent to the old address, despite the fact that the department was aware of the new address.The bench of Justice Rajiv Shakdher and Justice Girish Kathpalia has observed that no notice, under Section 143 of the Income Tax Act, …

Concealment Of Income Above Rs.50 Lakhs, Extended Period Of Limitation Would Apply: Delhi High Court
1 year, 1 month ago

Concealment Of Income Above Rs.50 Lakhs, Extended Period Of Limitation Would Apply: Delhi High Court

Live Law  

The Delhi High Court has held that an extended period of 10 years would apply in serious tax evasion cases where there was evidence of concealment of income above Rs. The assessee submitted that if the extended period of limitation provided under Section 149 is to be applied, which is a period beyond 3 years but not more than 10 …

Gujarat High Court Quashes Faceless Assessment Order For Lack Of Proper Opportunity Of Hearing
1 year, 4 months ago

Gujarat High Court Quashes Faceless Assessment Order For Lack Of Proper Opportunity Of Hearing

Live Law  

The Gujarat High Court has quashed the faceless assessment on the grounds that there is only a day for the assessee to respond so as to save the limitation period.The bench of Justice Biren Vaishnav and Justice Devan M. Desai has observed that the order under Section 263 of the Act was passed by the PCIT-4 on March 16, 2020. …

Gujarat High Court Quashes Reopening Of Assessment Order And Notice In Land Acquisition Case, Rules Compensation Not Taxable As Capital Gains
1 year, 5 months ago

Gujarat High Court Quashes Reopening Of Assessment Order And Notice In Land Acquisition Case, Rules Compensation Not Taxable As Capital Gains

Live Law  

The Gujarat High Court while quashing the reopening of an assessment order and notice issued to the petitioner in a land acquisition case, has ruled that compensation received for compulsory acquisition of land is not taxable as capital gains. However, after nearly two years, Anilaben received a notice under Section 148 of the Income Tax Act on March 31, 2021, …

Income Tax Assessment Can’t Be Reopened Without Any Foundation: Gujarat High Court
1 year, 8 months ago

Income Tax Assessment Can’t Be Reopened Without Any Foundation: Gujarat High Court

Live Law  

The Gujarat High Court has held that when the foundation was missing, there could not have been the erection of ground to seek reopening of assessment.The bench of Justice N.V. Anjaria and Justice Devan M. Desai has observed that neither foundational facts existed nor could any tangible material be available with the assessing officer to justify the exercise of power …

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, 9 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 …

Absence Of Material: Bombay High Court Quashes Reassessment Proceedings
1 year, 10 months ago

Absence Of Material: Bombay High Court Quashes Reassessment Proceedings

Live Law  

The Bombay High Court has quashed the reassessment proceedings as the issue of "large loans and advances" was not only raised during the scrutiny assessment but also responded to by the assessee.The division bench of Justice Dhiraj Singh Thakur and Justice Kamal Khata has observed that between the date of the order of assessment, which is sought to be reopened, …

Gujarat High Court Quashes Reassessment Order Citing Inability Of Assessee To Secure Relevant Documents Amid Covid-19 Lockdown
1 year, 11 months ago

Gujarat High Court Quashes Reassessment Order Citing Inability Of Assessee To Secure Relevant Documents Amid Covid-19 Lockdown

Live Law  

The Gujarat High Court recently quashed a reassessment order and final notice of assessment issued against to an assessee after she failed to produce the relevant documents, particularly Form-F prescribed under Gujarat Value Added Tax Act, 2003 amid Covid-19 lockdown.The division bench of Justice Sonia Gokani and Justice Sandeep N. Bhatt allowed the petition under Article 226 of. The Gujarat …

Reassessment Notice after 4 Years should have the Sanction Of PCIT: Bombay High Court
1 year, 11 months ago

Reassessment Notice after 4 Years should have the Sanction Of PCIT: Bombay High Court

Live Law  

The Bombay High Court ruled that issuing a reassessment notice after four years is subject to the approval of the Principal Chief Commissioner of Income-tax.The division bench of Justice Dhiraj Singh Thakur and Justice Kamal Khata has ruled that the approval for the issuance of a notice under Section 148 ought not to have been obtained from the Additional Commissioner …

Nothing New Happened Between The Date Of Reassessment Order And The Date Of Forming The Opinion By AO: Bombay High Court Quashes Reassessment Order
1 year, 11 months ago

Nothing New Happened Between The Date Of Reassessment Order And The Date Of Forming The Opinion By AO: Bombay High Court Quashes Reassessment Order

Live Law  

The Bombay High Court has quashed the Reassessment Order and held that between the date of the order of assessment sought to be reopened and the date of the formation of an opinion by the Assessing Officer, nothing new has happened. There was no new information received, nor was there any mention of new material on file.The division bench of …

Income Tax Act | Writ Petition Can Be Entertained To Examine If Conditions To Issue Section 148 Notice Are Satisfied : Supreme Court
1 year, 11 months 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 …

Gujarat High Court Quashes Assessment Order Of Income Tax Worth Rs. 101 Crores For Not Following Natural Justice
1 year, 11 months ago

Gujarat High Court Quashes Assessment Order Of Income Tax Worth Rs. 101 Crores For Not Following Natural Justice

Live Law  

The Gujarat High Court has quashed the assessment order of income tax worth Rs. The division bench of Justice N.V. Anjaria and Justice Bhargav D. Karia has observed that the respondent/department will be at liberty to proceed with assessment under the provisions of Section 144B of the Income Tax Act, 1961, as permissible under the law, after issuance of a …

Directors Not Negligent; Wrong Invocation Of Section 179 IT Act: Gujarat High Court
1 year, 11 months ago

Directors Not Negligent; Wrong Invocation Of Section 179 IT Act: Gujarat High Court

Live Law  

The Gujarat High Court has ruled that the Directors of the assessee company cannot be held negligent merely because they failed to deposit before the Assessing Officer 20% of the demand raised, so as to seek stay of demand during the pendency of an appeal before the CIT. Thus, the Court held that jurisdiction under Section 179 of the Income …

Notice Under Section 148 Of Income Tax Act Against A Struck-Off Company Valid, In View Of Subsequent Order Of NCLT Restoring The Company: Delhi High Court
2 years ago

Notice Under Section 148 Of Income Tax Act Against A Struck-Off Company Valid, In View Of Subsequent Order Of NCLT Restoring The Company: Delhi High Court

Live Law  

The Delhi High Court has ruled that the order passed by NCLT under Section 252 of the Companies Act, 2013, directing restoration of a struck off company, will have the effect of placing the company in the same position as if the name of the company had not been struck off from the register of companies. Thus, the Court held …

Tax Cases Weekly Round-Up: 13 November To 19 November 2022
2 years, 1 month ago

Tax Cases Weekly Round-Up: 13 November To 19 November 2022

Live Law  

Supreme Court Sec.194H Income Tax Act Attracted For 'Supplementary Commission' Earned By Travel Agents ; Airlines Liable To Deduct TDS : Supreme Court Case Title: Singapore Airlines Ltd. vs C.I.T., Delhi Citation: 2022 LiveLaw 959 The Supreme Court held that Section 194H of the Income Tax Act is attracted in the case of Supplementary Commission amounts earned by the travel …

Reassessment Notice Based On Error Resulting From Oversight Of AO Is Not Valid: Delhi High Court
2 years, 1 month ago

Reassessment Notice Based On Error Resulting From Oversight Of AO Is Not Valid: Delhi High Court

Live Law  

The Delhi High Court has held that the reassessment notice based on an error resulting from the oversight of the assessing officer is not valid.The division bench of Justice Vibhu Bakhru and Justice Amit Mahajan has relied on the decision of the Supreme Court in the case of Gemini Leather Stores v. Income Tax Officer, in which it was held …

In The Absence Of A Full And True Disclosure, Reassessment Is Not Barred By Limitation: Madras High Court
2 years, 1 month ago

In The Absence Of A Full And True Disclosure, Reassessment Is Not Barred By Limitation: Madras High Court

Live Law  

The Madras High Court has held that the criminal investigation wing is separate and distinct from the assessment wing and that disclosure made before one wing will not exonerate the assessee from the requirement of making a "full and true disclosure" before the assessing officer in an assessment.The single bench of Justice Anitha Sumanth has observed that in the absence …

Issuance Of Notice To Unrelated Mail Address Does Not Constitute Due Despatch: Delhi High Court
2 years, 2 months ago

Issuance Of Notice To Unrelated Mail Address Does Not Constitute Due Despatch: Delhi High Court

Live Law  

The Delhi High Court has held that the issuance of e-mail-attaching electronic notice to an unrelated e-mail address does not constitute due despatch and, therefore, the notices cannot be said to have been issued on 31st March 2021.The division bench of Justice Manmohan and Justice Manmeet Pritam Singh Arora has observed that since an authenticated copy of the notice was …

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