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 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 153A of the Act could not be initiated, the Revenue was not remediless and could take recourse to Sections 147 and 148. “The said decision also does not permit reopening of assessments beyond the period as stipulated under Section 149 of the Act,” the bench added. ” Thus, the High Court held that Revenue's contention that the time period, within which a notice can be issued under Section 148 of the Act as stipulated under Section 149 of the Act, is not applicable in the facts of the case, is unmerited.

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History of this topic

Income Tax Act | Principal Commissioner Has Authority To Cancel Registration Of Assessee Without Waiting For Decision From Assessing Authority: Kerala HC
Trending News
1 week, 5 days ago

Income Tax Act | Principal Commissioner Has Authority To Cancel Registration Of Assessee Without Waiting For Decision From Assessing Authority: Kerala HC

Live Law  

The Kerala High Court stated that principal commissioner has authority to cancel registration of assessee without waiting for decision from assessing authority. Jayasankaran Nambiar and Easwaran S. observed that “the provisions of Section 12AA independently empower the Principal Commissioner to consider whether or not the circumstances mentioned in Section 12AA and 12AA of the Income Tax Act exist as a …

Income Tax | Whether There Was Proper Notice Or Not Is Disputed Question Of Fact, Can't Be Challenged Under Article 226: Kerala High Court
1 week, 6 days ago

Income Tax | Whether There Was Proper Notice Or Not Is Disputed Question Of Fact, Can't Be Challenged Under Article 226: Kerala High Court

Live Law  

The Kerala High Court stated that the issue as to whether there was a proper notice or not is a disputed question of fact and cannot be challenged under Article 226 of the Constitution of India. “…….As rightly observed by the learned Single Judge, the question as to whether there was a proper notice or not is certainly a disputed …

Tax Weekly Round-Up: March 03 - March 09, 2025
1 week, 6 days ago

Tax Weekly Round-Up: March 03 - March 09, 2025

Live Law  

SUPREME COURT Supreme Court Upholds Allahabad HC Decision That Chargers Sold With Cell Phones Cannot Be Taxed Separately Under UP VAT Act 2008 Case title: COMMISSIONER, COMMERCIAL TAX Case no. A division bench of Chief Justice Devendra Kumar Upadhyaya and Justice Tushar Rao Gedela remarked, “This court is cognizant of the large number of statutory appeals pending for disposal before …

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

'Entire Case Based On Records Already Considered During Scrutiny': Mumbai ITAT Quashes Reopening Of Assessment Against Shah Rukh Khan For AY 2012-13
2 weeks, 2 days ago

'Entire Case Based On Records Already Considered During Scrutiny': Mumbai ITAT Quashes Reopening Of Assessment Against Shah Rukh Khan For AY 2012-13

Live Law  

The Mumbai ITAT has quashed the reopening of assessment proceedings against the Assessee/ Appellant i.e., Shah Rukh Khan for AY 2012-13. The tribunal held that the reasons recorded while initiating the re-assessment, were completely silent as regards the allegation that income chargeable to tax has escaped assessment due to failure on the part of the assessee to disclose fully and …

'Entire Case Based On Records Already Considered During Scrutiny': Mumbai ITAT Quashes Reopening Of Assessment Against Shah Rukh Khan For AY 2012-13
2 weeks, 2 days ago

'Entire Case Based On Records Already Considered During Scrutiny': Mumbai ITAT Quashes Reopening Of Assessment Against Shah Rukh Khan For AY 2012-13

Live Law  

The Mumbai ITAT has quashed the reopening of assessment proceedings against the Assessee/ Appellant i.e., Shah Rukh Khan for AY 2012-13. The tribunal held that the reasons recorded while initiating the re-assessment, were completely silent as regards the allegation that income chargeable to tax has escaped assessment due to failure on the part of the assessee to disclose fully and …

Assessee Entitled To Interest On Refund Under Direct Tax 'Vivad Se Vishwas' Scheme: Gujarat High Court
2 weeks, 3 days ago

Assessee Entitled To Interest On Refund Under Direct Tax 'Vivad Se Vishwas' Scheme: Gujarat High Court

Live Law  

The Gujarat High Court stated that the assessee is entitled to the interest on refund under Direct Tax Vivad Se Vishwas Scheme. “it is true that the assessee is not entitled to interest under Section 244A of the Income Tax Act, 1961, however, when the assessee has opted for direct tax for Vivad se Visvas Scheme 2020 and filed the …

Survey Report On Existence Of 'Permanent Establishment' In Tax Year Not Relevant For Previous/Future AYs: Delhi HC Grants Relief To Swiss Co
2 weeks, 3 days ago

Survey Report On Existence Of 'Permanent Establishment' In Tax Year Not Relevant For Previous/Future AYs: Delhi HC Grants Relief To Swiss Co

Live Law  

The Delhi High Court has held that the existence of a foreign entity's Permanent Establishment in India is required to be determined in law for each year separately on the basis of the scope, extent, nature and duration of activities in each year. A division bench of Justices Yashwant Varma and Ravinder Dudeja made the observation while dealing with a …

S.153C Income Tax Act | Two-Tier Satisfaction Of Assessing Officers Of Both Searched & Non-Searched Entity Needed Even Prior To 2015 Amendment: Delhi HC
3 weeks, 1 day ago

S.153C Income Tax Act | Two-Tier Satisfaction Of Assessing Officers Of Both Searched & Non-Searched Entity Needed Even Prior To 2015 Amendment: Delhi HC

Live Law  

The Delhi High Court has held that even though Section 153C of the Income Tax Act, 1961 did not in its original form prescribe two-tier satisfaction of Assessing Officers of both the searched and non-searched entity for initiating reassessment, the same cannot be deemed absent. “In our considered opinion, while and undoubtedly Section 153C as it stood at the relevant …

[S.292B Income Tax Act] Inadvertent Mistakes In Reassessment Can Be Saved But Assessment Order Overlooking Apparent Error Cannot: Delhi HC
3 weeks, 2 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 …

Change In Tax Rate In Future AYs Not Ground For Reassessment Without Fulfilling Jurisdictional Parameters U/S 148 Income Tax Act: Bombay HC
3 weeks, 5 days ago

Change In Tax Rate In Future AYs Not Ground For Reassessment Without Fulfilling Jurisdictional Parameters U/S 148 Income Tax Act: Bombay HC

Live Law  

The Bombay High Court has made it clear that merely because the tax rate which is applicable on an assessee changes in future assessment years, is not a ground to initiate reassessment action against it for previous AYs, unless the 'jurisdictional parameters' of Section 148 of the Income Tax Act, 1961 are fulfilled. A division bench of Justices MS Sonak …

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 …

Tax Weekly Round-Up: February 10 - February 16, 2025
1 month ago

Tax Weekly Round-Up: February 10 - February 16, 2025

Live Law  

NEW INCOME TAX BILL New Income Tax Bill 2025: Concept Of "Tax Year" To Be Introduced Instead Of "Assessment Year", "Financial Year" To Remain Unchanged The new Income Tax bill is set to introduce the concept of 'Tax Year'. In such circumstances, the provisions of Section 21 of the Act would not be applicable and the period of limitation would …

High Court Within Whose Jurisdiction AO Passes Assessment Order Has Jurisdiction To Entertain Appeal U/S 260A Income Tax Act: Delhi HC
1 month, 1 week ago

High Court Within Whose Jurisdiction AO Passes Assessment Order Has Jurisdiction To Entertain Appeal U/S 260A Income Tax Act: Delhi HC

Live Law  

The Delhi High Court has reiterated that only such High Court within whose jurisdiction the Assessing Officer passing an impugned assessment order is situated would have the jurisdiction to entertain an appeal under Section 260A of the Income Tax Act, 1961. It submitted that since the original assessment order was passed by the AO in Amritsar, therefore, Delhi High Court …

AO Duty Bound To Dispose Of Assessee's Written Objections To Proposed Re-Assessment By Passing Speaking Order: Calcutta High Court
1 month, 1 week ago

AO Duty Bound To Dispose Of Assessee's Written Objections To Proposed Re-Assessment By Passing Speaking Order: Calcutta High Court

Live Law  

The Calcutta High Court recently upheld an ITAT order deleting the addition of over ₹4 crore made to the income of an assessee under the Income Tax Act, 1961 in reassessment action. It observed, “The duty cast upon the assessing officer is to decide the written objections given by the assessee to the proposed reopening and passing a speaking order …

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, …

What Is The Time Period Surviving U/S 149 Of Income Tax Act For Issuing Reassessment Notices: Delhi High Court Explains
1 month, 2 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 …

Suo Moto Disallowance Made By Assessee Under Bonafide Belief Of Tax Liability Can Be Rectified U/S 264 Of Income Tax Act Without Amending ITR: Delhi HC
Trending News
1 month, 2 weeks ago

Suo Moto Disallowance Made By Assessee Under Bonafide Belief Of Tax Liability Can Be Rectified U/S 264 Of Income Tax Act Without Amending ITR: Delhi HC

Live Law  

The Delhi High Court has held that an application for revision under Section 264 of the Income Tax Act, 1961 can be preferred by an assessee who makes suo motu disallowance in its Return of Income, under a bonafide yet mistaken belief that the same was liable to be offered for taxation. Granting relief to the petitioner, the High Court …

Suo Moto Disallowance Made By Assessee Under Bonafide Belief Of Tax Liability Can Be Rectified U/S 264 Of Income Tax Act Without Amending ITR: Delhi HC
Trending News
1 month, 2 weeks ago

Suo Moto Disallowance Made By Assessee Under Bonafide Belief Of Tax Liability Can Be Rectified U/S 264 Of Income Tax Act Without Amending ITR: Delhi HC

Live Law  

The Delhi High Court has held that an application for revision under Section 264 of the Income Tax Act, 1961 can be preferred by an assessee who makes suo motu disallowance in its Return of Income, under a bonafide yet mistaken belief that the same was liable to be offered for taxation. Granting relief to the petitioner, the High Court …

Prescribed Time Limit For Filing Refund Application Cannot Be Disregarded Merely Because Tax Was Collected Without Legal Authority: CESTAT
1 month, 3 weeks ago

Prescribed Time Limit For Filing Refund Application Cannot Be Disregarded Merely Because Tax Was Collected Without Legal Authority: CESTAT

Live Law  

The New Delhi Bench of Customs, Excise, and Service Tax Appellate Tribunal has stated that the prescribed time limit for filing a refund application cannot be disregarded merely because the tax was collected without legal authority. The Bench of Justices Dilip Gupta and P. V. Subba Rao has observed that “the appellant cannot be permitted to claim a refund of …

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 …

Tax Weekly Round-Up: January 20 - January 26, 2025
1 month, 3 weeks ago

Tax Weekly Round-Up: January 20 - January 26, 2025

Live Law  

SUPREME COURT Supreme Court Sets Aside Excise Duty Demand On Oil Marketing Companies For Inter-Supply Of Petroleum Products Case Title: Bharat Petroleum Corporation Ltd. versus Commissioner of Central Excise Nashik Commissionerate Case no. A bench comprising Chief Justice of India Sanjiv Khanna and Justice Sanjay Kumar said that the petition filed by BJP leader Ashwini Upadhyay was "badly drafted" and …

Delhi HC Rejects Income Tax Director's Appeal U/S 19 Contempt Of Courts Act, Says Appeal Maintainable Only If Order Imposes Punishment
2 months ago

Delhi HC Rejects Income Tax Director's Appeal U/S 19 Contempt Of Courts Act, Says Appeal Maintainable Only If Order Imposes Punishment

Live Law  

The Delhi High Court has dismissed the appeal preferred by a Director of Income Tax under Section 19 of the Contempt of Courts Act, 1971. A division bench of Justices Chandra Dhari Singh and Manoj Jain observed that in the absence of the contempt court recording a finding of guilt or imposing a punishment, the appeal preferred under Section 19 …

[Income Tax] Assessing Officer Not Only An Adjudicator But Also An Investigator, Cannot Remain Oblivious To Claim Without Enquiry: Kerala HC
2 months ago

[Income Tax] Assessing Officer Not Only An Adjudicator But Also An Investigator, Cannot Remain Oblivious To Claim Without Enquiry: Kerala HC

Live Law  

The Kerala High Court stated that the Income Tax Commissioner can exercise Revisional Jurisdiction under Section 263 of the Income Tax Act, 1961. Jayasankaran Nambiar and Easwaran S. observed that “The role of the assessing officer under the Income Tax Act, 1961 is not only that of an adjudicator but also of an investigator and he cannot remain oblivious in …

Tax Weekly Round-Up: January 13 - January 19, 2025
2 months 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 …

[S.151 IT Act] SC Judgment In Rajeev Bansal Doesn't Affirm Authority Of Joint Commissioner To Accord Approvals For Reassessment: Delhi HC
2 months ago

[S.151 IT Act] SC Judgment In Rajeev Bansal Doesn't Affirm Authority Of Joint Commissioner To Accord Approvals For Reassessment: Delhi HC

Live Law  

The Delhi High Court has held that the Supreme Court's decision in Union of India and Ors. vs. Rajeev Bansal did not affirm the authority of a Joint Commissioner to grant approval under Section 151 of the Income Tax Act, 1961 for initiation of reassessment proceedings. A division bench of Justices Yashwant Varma and Dharmesh Sharma observed that the Supreme …

ITAT Cannot Decide On Grounds Not Addressed By Commissioner Of Income Tax (Appeals): Delhi High Court
2 months, 1 week ago

ITAT Cannot Decide On Grounds Not Addressed By Commissioner Of Income Tax (Appeals): Delhi High Court

Live Law  

The Delhi High Court recently said aside an order passed by the Income Tax Appellate Tribunal, deciding grounds that did not arise from the impugned order passed by the Commissioner of Income Tax. A division bench of Acting Chief Justice Vibhu Bakhru and Justice Tushar Rao Gedela observed, “The Assessee's challenge to the addition of ₹4,30,00,000/- under Section 68 of …

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, 1 week 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 …

AO Bound To Ascertain 'Correctness' Of Information Available Against Assessee, 'Decide' Whether It Is Sufficient To Reopen Assessment: Delhi HC
2 months, 1 week ago

AO Bound To Ascertain 'Correctness' Of Information Available Against Assessee, 'Decide' Whether It Is Sufficient To Reopen Assessment: Delhi HC

Live Law  

The Delhi High Court has turned down the contention that an Assessing Officer, at the stage of passing an order under Section 148A of the Income Tax Act, 1961 for initiation of reassessment proceedings, is not required to form any opinion as to the genuineness or veracity of the information available against an assessee. The question whether the assessee's income …

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 …

Uploading Information On Insight Portal Not A Substitute For Handing Over Material To AO For Non-Searched Entity U/S 153C Of IT Act: Delhi HC
2 months, 2 weeks ago

Uploading Information On Insight Portal Not A Substitute For Handing Over Material To AO For Non-Searched Entity U/S 153C Of IT Act: Delhi HC

Live Law  

The Delhi High Court has held that the provision under Section 153C of the Income Tax Act, 1961 for the Assessing officer of a searched person to record 'satisfaction' and handover documents regarding undisclosed income of another person cannot be substituted by merely uploading such information on the Department's insight portal. A division bench of Acting Chief Justice Vibhu Bakhru …

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

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 …

Tax Weekly Round-Up [23rd December - 29th December 2024]
2 months, 3 weeks ago

Tax Weekly Round-Up [23rd December - 29th December 2024]

Live Law  

HIGH COURTS Bombay HC ITO Acted On Complete Change Of Opinion On Same Material With Intent To Review Assessment Order Passed By Him: Bombay HC Quashes Reopening Case Title: Imperial Consultants and Securities vs. Deputy CIT Case no. Amendment In Finance Act Can't Retrospectively Affect Vested Right Of Taxpayer To Adjudicate Settlement Application U/S 245: Calcutta HC Case Title: Pradeep …

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 …

S.147 Of IT Act Doesn't Postulate Review Jurisdiction Such That Assessment Can Be Reviewed By AO Intending To Form Different Opinion: Bombay HC
2 months, 3 weeks ago

S.147 Of IT Act Doesn't Postulate Review Jurisdiction Such That Assessment Can Be Reviewed By AO Intending To Form Different Opinion: Bombay HC

Live Law  

The Bombay High Court ruled that the materials which were already available before AO and which ultimately were considered in passing assessment order u/s 143, cannot form basis of reopening, on ground that such materials were ignored in finalizing assessment. The Division Bench of Justice G S Kulkarni and Justice Firdosh P Pooniwalla observed that AO cannot assume jurisdiction under …

ITO Acted On Complete Change Of Opinion On Same Material With Intent To Review Assessment Order Passed By Him: Bombay HC Quashes Reopening
Trending News
2 months, 3 weeks ago

ITO Acted On Complete Change Of Opinion On Same Material With Intent To Review Assessment Order Passed By Him: Bombay HC Quashes Reopening

Live Law  

While setting aside the reassessment proceedings, the Bombay High Court held that 'change of opinion' or 'review of already completed assessment', is not permitted to AO. Facts of the case: The petitioner/ assessee company, engaged in investment and trading of shares and securities, filed its return, after which a notice u/s 142 was issued calling upon the assessee to furnish …

ITO Acted On Complete Change Of Opinion On Same Material With Intent To Review Assessment Order Passed By Him: Bombay HC Quashes Reopening
Trending News
2 months, 3 weeks ago

ITO Acted On Complete Change Of Opinion On Same Material With Intent To Review Assessment Order Passed By Him: Bombay HC Quashes Reopening

Live Law  

While setting aside the reassessment proceedings, the Bombay High Court held that 'change of opinion' or 'review of already completed assessment', is not permitted to AO. Facts of the case: The petitioner/ assessee company, engaged in investment and trading of shares and securities, filed its return, after which a notice u/s 142 was issued calling upon the assessee to furnish …

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 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 …

Tax Weekly Round-Up: December 09 - December 15, 2024
3 months, 1 week ago

Tax Weekly Round-Up: December 09 - December 15, 2024

Live Law  

HIGH COURTS Allahabad HC Assesee Cannot File For Requisite Documents Once Plea Is Accepted And Notice Is Issued: Allahabad High Court Case Title: M/s Laxmi Telecom v. State of U.P. Form 26B Under Income Tax Rules Not Required For Refund Once Form 5 Under 'Vivad Se Vishwas' Act Is Issued: Allahabad High Court Case Title: Dish TV India Limited v. …

Form 26B Under Income Tax Rules Not Required For Refund Once Form 5 Under 'Vivad Se Vishwas' Act Is Issued: Allahabad High Court
3 months, 1 week ago

Form 26B Under Income Tax Rules Not Required For Refund Once Form 5 Under 'Vivad Se Vishwas' Act Is Issued: Allahabad High Court

Live Law  

The Allahabad High Court has held that an assesse claiming refund of excess TDS is not required to fill Form 26B under the Income Tax Rules once Form 5 of the Vivad Se Vishwas Act, 2020 has been issued to them. Subsequently, petitioner withdrew the Income Tax Appeal and the respondent issued an order for final settlement of Tax under …

Assessee Can Confine Settlement Under Direct Tax Vivad Se Vishwas Act To Disputes Which Were Subject Matter Of Its Appeal: Delhi HC
Trending News
3 months, 1 week ago

Assessee Can Confine Settlement Under Direct Tax Vivad Se Vishwas Act To Disputes Which Were Subject Matter Of Its Appeal: Delhi HC

Live Law  

The Delhi High Court has held that under the Direct Tax Vivad Se Vishwas Act, 2020, an Assessee is entitled to confine the settlement of disputes which were subject matter of its appeal, and exclude the disputes which were subject matter of the Revenue's appeal for the same assessment year. It thus allowed a real estate company's plea against the …

Tax Weekly Roundup: November 25 - December 01, 2024
3 months, 2 weeks ago

Tax Weekly Roundup: November 25 - December 01, 2024

Live Law  

HIGH COURTS Allahabad HC Time Extension Notification Dated 24.04.2023 Valid Only From 31.03.2023, Not Before: Allahabad High Court Case Title: M/s A.V. Review Plea Against SLP Constitutes "Disputed Tax" U/S 2: Delhi High Court Case title: NRA Iron And Steel Pvt Ltd v. Income Tax Department & Ors. S.99A Customs Act | Final Report Containing Audit Findings Can Be Drawn …

AO Cannot Assess 'Other Incomes' If No Addition Is Made On Account Of 'Reasons' For Which Reassessment U/S 147 Of IT Act Was Initiated: Delhi HC
3 months, 3 weeks ago

AO Cannot Assess 'Other Incomes' If No Addition Is Made On Account Of 'Reasons' For Which Reassessment U/S 147 Of IT Act Was Initiated: Delhi HC

Live Law  

The Delhi High Court has made it clear that an Assessing Officer cannot assess other incomes of an Assessee in a case where no addition is made on account of the “reasons” for which reassessment under Section 147 of the Income Tax Act, 1961 was initiated. Section 147 empowers the AO to assess or reassess income and also any other …

Tax Weekly Roundup: November 18 - November 24, 2024
3 months, 3 weeks 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
3 months, 3 weeks 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, …

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