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. 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. The assessee contended that the petitioner only had a 50% share in the properties since the original petitioner and her late husband were governed by the Portuguese Civil Code applicable to the residents of Goa.

Goa Tax Bombay High Court Sale Income Department Original Petitioner Section 148 Resorts Pvt Her Roi  income  sale  tax  high  portuguese  petitioner  complying  148  department  notice  governed  share  court  bombay  reassessment  preconditions  return  jurisdictional  original

History of this topic

Income Tax | Whether There Was Proper Notice Or Not Is Disputed Question Of Fact, Can't Be Challenged Under Article 226: Kerala High Court
2 weeks, 5 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 …

Change In Tax Rate In Future AYs Not Ground For Reassessment Without Fulfilling Jurisdictional Parameters U/S 148 Income Tax Act: Bombay HC
1 month 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, 1 week 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 …

Not An Enabling Provision, Proscribes Reassessment Action Beyond Limitation: Delhi HC Explains Timelines U/S 149 Of Income Tax Act
1 month, 3 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, 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 …

[S. 148 IT Act] Mere Change Of Opinion By AO, No 'Reason To Beleive' Assessee Failed To Disclose Info: Tripura HC Quashes Reassment Notice
1 month, 3 weeks ago

[S. 148 IT Act] Mere Change Of Opinion By AO, No 'Reason To Beleive' Assessee Failed To Disclose Info: Tripura HC Quashes Reassment Notice

Live Law  

The Tripura High Court recently invalidated a reassessment notice issued under Section 148 of the Income Tax Act, 1961. The court held the reassessment to be improper because it was based on already available data and thus it merely indicated that the Assessing Officer had had a change of opinion rather than a 'reason to believe' the assessee had hidden …

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 …

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.” …

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, 1 week 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
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 …

High Court Rejects Income Tax Appeal, Finds No Escapement of Rs. 3.25 Crore
5 months, 1 week 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 …

Income Declaration Scheme 2016, Assessee Deposited Amount, Dept. Claim Erroneous; Bombay High Court
7 months, 1 week ago

Income Declaration Scheme 2016, Assessee Deposited Amount, Dept. Claim Erroneous; Bombay High Court

Live Law  

The Bombay High Court has directed the department to issue certificates as the assessee deposited all amounts under the Income Declaration Scheme, 2016.The bench of Justice G. S. Kulkarni and Justice Somasekhar Sundaresan has observed that the petitioner or assessee in fact complied with all the requirements under the IDS, and the appropriate amount of tax deposited is sufficient to. …

JAO Not Empowered To Issue Section 148A(b) Notice Under Faceless Assessment: Bombay High Court
8 months, 1 week ago

JAO Not Empowered To Issue Section 148A(b) Notice Under Faceless Assessment: Bombay High Court

Live Law  

The Bombay High Court has held that it was not permissible for the Jurisdictional Assessing Officer to issue a notice under Section 148A, as the same would amount to a breach of the provisions of Section 151A of the Income Tax Act.The bench of Justice G. S. Kulkarni and Justice Somasekhar Sundaresan has observed that the notice was invalid and …

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 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 …

Bombay High Court Quashes Reassessment Notices Issued Merely On Basis Of Information Received From Directorate General Of GST
10 months, 1 week ago

Bombay High Court Quashes Reassessment Notices Issued Merely On Basis Of Information Received From Directorate General Of GST

Live Law  

The Bombay High Court has quashed the reassessment notices issued merely on the basis of information received from the Directorate General of GST.The bench of Justice K. R. Shriram and Justice Neela Gokhale has observed that the AO is only referring to the information received from the Directorate General of GST. The Bombay High Court has quashed the reassessment notices …

Income Tax Authority Should Refrain From Over Analysis Which Leads To Paralysis Of Justice: Bombay High Court
10 months, 3 weeks ago

Income Tax Authority Should Refrain From Over Analysis Which Leads To Paralysis Of Justice: Bombay High Court

Live Law  

The Bombay High Court, while setting aside the order of the Income Tax Appellate Tribunal, held that the authority should refrain from overanalyzing, which leads to paralysis of justice.The bench of Justice K. R. Shriram and Justice Neela Gokhale has observed that the ITAT failed to appreciate the spirit in which the order dated August 23, 2022, was passed by …

[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 …

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

Bombay High Court Quashes Reassessment Proceedings Against Castrol India Initiated On Basis Of A Change Of Opinion
1 year ago

Bombay High Court Quashes Reassessment Proceedings Against Castrol India Initiated On Basis Of A Change Of Opinion

Live Law  

The Bombay High Court has quashed reassessment proceedings against Castrol India initiated on the basis of a change of opinion.The bench of Justice K. R. Shriram and Justice Neela Gokhale has observed that the reasons to believe notice itself indicates that the AO was already seized with information prior to passing the original assessment order, and as such, there is …

AO Competent To Invoke Section 154 Jurisdiction If Glaring Mistake Of Fact/Law Is Committed While Passing Assessment Order: Madras High Court
1 year 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 Weekly Round-Up: 21 To 27 January 2024
1 year, 2 months ago

Direct Tax Weekly Round-Up: 21 To 27 January 2024

Live Law  

Supreme Court Case Title: M/S Mangalam Publications, Kottayam V. Commissioner Of Income Tax, Kottayam Citation : 2024 LiveLaw 55 While deciding the question as to whether reopening of a concluded assessment under Section 147 of the Income Tax Act was legally sustainable or not, the Supreme Court recently held that for the purposes of tax assessment, an assessee's obligation is …

Dept.’s Personal Opinion Not Tangible Material For Reopening Assessment: Calcutta High Court Quashes Reassessment
1 year, 3 months 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 …

Bombay High Court Quashes Income Tax Assessments Against Agriculturist And Rickshaw Driver For Improper Sanction
1 year, 4 months ago

Bombay High Court Quashes Income Tax Assessments Against Agriculturist And Rickshaw Driver For Improper Sanction

Live Law  

The Bombay High Court has quashed the income tax assessments for the assessment year 2016-2017 against agriculturists and rickshaw drivers for improper sanction.The bench of Justice K.R. The Bombay High Court has quashed the income tax assessments for the assessment year 2016-2017 against agriculturists and rickshaw drivers for improper sanction. The assessee challenged the income tax assessments for the assessment …

Re-Opening Is Not Permissible As It Falls Within The Purview Of A ‘Change Of Opinion’: Bombay High Court
1 year, 4 months ago

Re-Opening Is Not Permissible As It Falls Within The Purview Of A ‘Change Of Opinion’: Bombay High Court

Live Law  

The Bombay High Court has held that re-opening is not permissible as it clearly falls within the purview of a ‘change of opinion’ which is impermissible in law.The bench of Justice K. R. Shriram and Justice Neela Gokhale have observed that the basis on which the AO issued notice alleging that there was "information" that suggests escapement of income was …

S. 148 Income Tax Act| Notice Without DIN, Not Invalid, If Assesee Responds To Manual Notices: Allahabad High Court
1 year, 7 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 …

AO Unclear whether The Notice Is Issued To An Individual Or A Corporate Entity: Delhi High Court Quashes Reassessment Notice
1 year, 9 months ago

AO Unclear whether The Notice Is Issued To An Individual Or A Corporate Entity: Delhi High Court Quashes Reassessment Notice

Live Law  

The Delhi High Court has quashed the reassessment notice for non-application of mind by the department.The bench of Justice Rajiv Shakdher and Justice Girish Kathpalia has directed the AO to recommence the proceeding if deemed necessary after gathering the relevant material that would show that income chargeable to tax has escaped assessment by the petitioner.The petitioner has challenged. The Delhi …

Non-Supply Of Survey Report, Delhi High Court Stays Reassessment Proceedings Against Centre For Policy Research
1 year, 9 months ago

Non-Supply Of Survey Report, Delhi High Court Stays Reassessment Proceedings Against Centre For Policy Research

Live Law  

The Delhi High Court has stayed the reassessment proceedings against the Centre for Policy Research.The bench of Justice Rajiv Shakdher and Justice Girish Kathpalia has observed that the entire survey report was not submitted to the petitioner; only the relied-upon portion of the survey report was provided to the petitioner.The petitioner has assailed the notices dated March 28, 2023, and. …

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

Alternative Remedy Is Not Absolute Bar To Examine Conditions To Issue Reassessment Notice: Madhya Pradesh High Court
2 years ago

Alternative Remedy Is Not Absolute Bar To Examine Conditions To Issue Reassessment Notice: Madhya Pradesh High Court

Live Law  

The Madhya Pradesh High Court stayed the reassessment proceedings and admitted them for the final hearing.The division bench of Justice S.A. Dharmadhikari and Justice Prakash Chandra Gupta has relied on the decision of the Supreme Court in the case of Red Chilli International Sales Vs. Income Tax Officer & Anr., in which it was held that writ petitions have been …

Absence Of Material: Bombay High Court Quashes Reassessment Proceedings
2 years, 1 month 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, …

No Reason For AO To Believe Income Chargeable To Tax Escaped Assessment: Bombay High Court
2 years, 1 month ago

No Reason For AO To Believe Income Chargeable To Tax Escaped Assessment: Bombay High Court

Live Law  

The Bombay High Court has held that the development agreement permitted construction on the land only as a licensee, which did not have the effect of transmitting possession in favor of the licensee as per Section 53A of the Transfer of Property Act.The division bench of Justice Dhiraj Singh Thakur and Justice Kamal Khata has observed that there was neither …

Reassessment Notice after 4 Years should have the Sanction Of PCIT: Bombay High Court
2 years, 2 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 …

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

Reassessment Notice Based On Error Resulting From Oversight Of AO Is Not Valid: Delhi High Court
2 years, 4 months 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, 5 months 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 …

Reassessment Notice Issued Against A Dead Person Would Be Invalid: Bombay High Court
2 years, 5 months ago

Reassessment Notice Issued Against A Dead Person Would Be Invalid: Bombay High Court

Live Law  

The Bombay High Court has held that a reassessment notice against a dead person would be invalid unless the legal representatives submit to the jurisdiction of the Assessing Officer without raising any objection.The division bench of Justice Dhiraj Singh Thakur and Justice Valmiki Sa Menezes has observed that where the legal representatives do not waive their right to a notice …

Reassessment Notices Issued Between 1st April 2021 To 30th June, 2021 Not Time Barred: Delhi High Court
2 years, 6 months ago

Reassessment Notices Issued Between 1st April 2021 To 30th June, 2021 Not Time Barred: Delhi High Court

Live Law  

The Delhi High Court has held that the reassessment notices issued between 1st April 2021 and 30th June 2021, will be deemed to have been issued under Section 148A of the Income Tax Act.The division bench of Justice Manmohan and Justice Manmeet Pritam Singh Arora has observed that the re-assessment notice dated 29.06.2021, which has been issued within the extended …

Invalid Reassessment Notice, The Entire Proceedings have To Collapse: Calcutta High Court
2 years, 6 months ago

Invalid Reassessment Notice, The Entire Proceedings have To Collapse: Calcutta High Court

Live Law  

The Calcutta High Court has held that the foundation of a reassessment proceeding is a valid notice, and if the notice is held to be invalid, the entire edifice sought to be raised has to collapse. Therefore, the Assessing Officer held that these amounts were to be taxed separately at the Maximum Marginal Rate in terms of the proviso to …

Reopening of IT Assessment By Officer Having No Jurisdiction: Madras High Court Invalidates Proceedings
2 years, 8 months ago

Reopening of IT Assessment By Officer Having No Jurisdiction: Madras High Court Invalidates Proceedings

Live Law  

The Madras High Court invalidated the reassessment procedures on the basis that the reopening of the income tax assessment was conducted by an officer without jurisdiction. After a period of five years, the assessee received a notice dated March 28, 2018 issued by the ACIT Mumbai under Section 148 purportedly to re-assess the income tax return submitted by her for …

Reassessment Proceedings Can't Be Initiated On Same Set Of Facts Available: ITAT
2 years, 9 months ago

Reassessment Proceedings Can't Be Initiated On Same Set Of Facts Available: ITAT

Live Law  

The Mumbai Bench of the Income Tax Appellate Tribunal has held that the reassessment proceedings cannot be initiated by applying a fresh application of mind to the same set of facts available at the time of the original scrutiny assessment proceedings. The Assessing Officer issued the notice under section 148 of the Income Tax Act, initiating the reassessment proceedings in …

Delhi High Court Quashes Assessment Order For Not Giving Opportunity To File Objection To SCN
2 years, 9 months ago

Delhi High Court Quashes Assessment Order For Not Giving Opportunity To File Objection To SCN

Live Law  

The Delhi High Court bench of Justice Manmohan and Justice Dinesh Kumar Sharma has quashed the assessment order as the assessee was not given an opportunity to file an objection to the show cause notice. The petitioner/assessee has challenged the reassessment notices for the assessment years 2014-15 and 2015-16 as well as the assessment orders passed under Section 147 read …

Monthly Digest Of Tax Cases: May 2022
2 years, 9 months ago

Monthly Digest Of Tax Cases: May 2022

Live Law  

Indirect Taxes Supreme Court Case Title : Union of India and Anr versus M/s Mohit Minerals Through Director Citation : 2022 LiveLaw 500 In a significant verdict, the Supreme Court held that the recommendations of the GST council are not binding on the Union and the State Governments. Case Title: Seven Seas Hospitality Private Limited Versus PCIT Citation: 2022 LiveLaw …

Non Consideration Of Detailed Reply To Show Cause Notice Submitted After Stipulated Time, Delhi High Court Quashes Reassessment Order
2 years, 10 months ago

Non Consideration Of Detailed Reply To Show Cause Notice Submitted After Stipulated Time, Delhi High Court Quashes Reassessment Order

Live Law  

The Delhi High Court bench of Justice Manmohan and Justice Dinesh Kumar Sharma has quashed the reassessment order, alleging income of more than Rupees one lakh crore having escaped assessment on the grounds of violation of natural justice. The petitioner/assessee has submitted that the order under Section 148A of the Income Tax Act was passed without considering the replies filed …

Assessment Can't Be Reopened On Mere Change Of Opinion Of AO: Bombay High Court
2 years, 10 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 …

Equilibrium Between Power Of The Income Tax Dept. Of Reassessment And Rights Of The Assessee: Supreme Court
2 years, 10 months ago

Equilibrium Between Power Of The Income Tax Dept. Of Reassessment And Rights Of The Assessee: Supreme Court

Live Law  

The Supreme Court, by invoking the extraordinary jurisdiction under Article 142 of the Constitution of India, saved over 90,000 Income Tax Reassessment notices issued after the 2021 Amendment by deeming them as notices under Section 148A of the Income Tax Act. Shah and B.V. Nagarathna observed that section 148 notices issued to respective assessees under the unamended section 148 of …

Only PCIT Can Sanction Reassessment Notice After Expiry Of 4 Years, Not ACIT: Bombay High Court
2 years, 11 months ago

Only PCIT Can Sanction Reassessment Notice After Expiry Of 4 Years, Not ACIT: Bombay High Court

Live Law  

The Bombay High Court bench of Justice N.R. Shriram has held that after four years of expiry from the end of the relevant assessment year, only the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner can accord the approval to the reassessment notice and not the Additional Commissioner of Income Tax. The petitioner/assessee has challenged the reassessment …

'Reason To Believe' Sufficient To Issue Notice U/S 148 Income Tax Act, Sufficiency/ Correctness Of Material Not Considered At This Stage: Delhi HC
2 years, 11 months ago

'Reason To Believe' Sufficient To Issue Notice U/S 148 Income Tax Act, Sufficiency/ Correctness Of Material Not Considered At This Stage: Delhi HC

Live Law  

The Delhi High Court has observed that the sufficiency or correctness of the material is not a thing to be considered at the stage of issue of notice for reassessment under Section 148 of the Income Tax Act.A division bench comprising of Justice Manmohan and Justice Dinesh Kumar Sharma was dealing with a bunch of pleas challenging the notices dated …

Remuneration From Partnership Not 'Gross Receipt' For Purpose Of Audit Under Section 44AB Of Income Tax Act: Bombay High Court
3 years ago

Remuneration From Partnership Not 'Gross Receipt' For Purpose Of Audit Under Section 44AB Of Income Tax Act: Bombay High Court

Live Law  

The Bombay High Court has ruled that remuneration received from partnership firm cannot be treated as gross receipt in profession for the purpose of compulsory audit under Section 44AB of the Income Tax Act, 1961. The counsel for the Assessee Perizad Zorabian Irani submitted before the High Court that the remuneration received by the Assessee as a partner could not …

Discover Related