News Muncher - category reassessment

4 days, 4 hours ago

There Cannot Be 'Disconnect' Between Reasons For Initiating Reassessment U/S 147 Of IT Act & Grounds On Which Final Order Is Passed: Delhi HC

Live Law

The Delhi High Court has held that only 'original reasons' which formed the basis for initiating reassessment proceedings under Section 147 of the Income Tax Act can be taken into consideration by the Assessing Officer, for coming to the conclusion that income had escaped assessment. A division bench of Justice Yashwant Varma Hon'ble Mr. Justice Dharmesh Sharma observed that there …

Reassessment Assessment Income Department Reasons Petitioner Reassessment Proceedings

6 days, 11 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 …

Delhi Tax Court Reassessment Assessment Income Tax Income

2 weeks, 1 day ago

Ombudsman calls for reassessment of protest rights in the Netherlands

NL Times

Dutch National Ombudsman Reinier van Zutphen is launching a new investigation into the state of protest rights in the Netherlands, citing growing concerns over the restrictions placed on demonstrations. Van Zutphen questioned the severity of such actions, calling it “borderline” and expressing concerns over the broader impact on the right to protest. Seven years ago, Van Zutphen’s earlier report concluded …

Netherlands Rights Protests Ombudsman Protest Right Van Zutphen

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 …

Reassessment Assessment Income Act Reasons Assess Assessee

Proper Officer Must Provide 'Reason To Doubt' Value Of Goods Declared By Importer Before Initiating Reassessment U/S 17 Customs Act: Delhi HC

Live Law

The Delhi High Court has held that the proper officer under the Customs Act, 1962 must provide “reasons to doubt” the declared value of imported goods, before proceeding with reassessment under Section 17. The High Court said that it is manifest from Section 17 that before the proper officer commences the process of reassessment, it must come to form an …

Opinion Customs Reassessment Officer Reason Imported Goods Doubt

3 weeks, 2 days ago

Customs Act | Importer Accepting Enhanced Valuation Of Goods For Expeditious Clearance Not 'Waiver' Of Right To Contest Re-Assessment: Delhi HC

Live Law

The Delhi High Court has held that where enhancement of valuation of goods by the proper officer for the purpose of determining Customs duty is accepted by the importer under protest, for expeditious clearance, it cannot be said that the importer has waived its right to question the reassessment. The right to question the correctness of the decision of the …

High Court Court Customs Reassessment Order Right Officer

1 month, 1 week ago

Telangana HC Directs Reassessment of Compensation in SCCL Land Case

Deccan Chronicle

Hyderabad: Justice T. Vinod Kumar of the Telangana High Court directed local authorities to reconsider compensation for petitioners in a land acquisition case involving Singareni Collieries Company Limited. Since the respondents agreed to pay the amount, the writ plea was allowed in August 2021 directing the respondents to pay the amount payable to the petitioner with 18 per cent interest …

High Court Compensation Court Writ Case Respondent Cent

4 months, 1 week ago

Rajasthan High Court Quashes Income Tax Reassessment As Income Tax Dept. Failed To Hold Proper Investigation

Live Law

The Jaipur Bench of the Rajasthan High Court has quashed the income tax reassessment and held that the Income Tax Department had not done any investigation or held an inquiry. The bench of Justice Avneesh Jhingan and Justice Ashutosh Kumar has observed that the additions were made solely based on the order passed by the AO determining the value of …

Appeal Tax Court Customs Income Tax Order Income

4 months, 1 week ago

Liquidator Never Informed Of Reassessment Proceedings, Patna High Court Quashes Order

Live Law

The Patna High Court has quashed the order as the liquidator was not informed of the reassessment proceedings.The bench of Chief Justice K. Vinod Chandran and Justice Partha Sarthy has observed that the liquidator should be noticed and participate in the reassessment proceedings. The Patna High Court has quashed the order as the liquidator was not informed of the reassessment …

Reassessment Order Proceedings Liquidator Court Quashes Assessee Reassessment Proceedings

4 months, 1 week ago

Direct Tax Weekly Round-Up: 4 To 10 August 2024

Live Law

Delhi High Court Amendment In Section 153C Income Tax Act Can't Be Interpreted For Revival Of Already Time Barred Proceedings: Delhi High Court Case Title: PCIT Versus Karina Airlines International Ltd. Reopening Based On Entirely New Material Deprives Taxpayer's Right To Object To Re-Assessment: Delhi High Court Case Title: Banyan Real Estate Fund Mauritius Verses Assistant Commissioner Of Income Tax …

Tax Court Income Tax Title Income Held High

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 …

Jurisdiction Tax Bombay High Court Income Act 148 Section 148

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. …

Goa Tax Bombay High Court Sale Income Department Original

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 …

Tax Reassessment Income Officer Act Stay Karnataka High Court

5 months, 1 week ago

ITAT Half Yearly Digest: January To June 2024 - PART I

Live Law

S. 54F Exemption Not Available On Property Predominantly Being Used For Religious Purposes: ITAT Case Title: Asstt. Explanation 3 To Sec 147 Can't Be Resorted To Make Addition On Any Other Issue Which Is Not Included In Reasons For Reopening: New Delhi ITAT Case Title: Vishram Sahakari Awas Samiti Limited verses ITO On finding that no addition is made based …

India Delhi Kolkata Tax Indian Income Tax Title

5 months, 3 weeks ago

Assessment Re-Opened By Dept. Based On 'Change Of Opinion'; Himachal Pradesh High Court Quashes Reassessment

Live Law

The Himachal High Court quashed the reassessment order on the grounds that the assessment was re-opened by the department based on 'change of opinion'.The bench of Justice Tarlok Singh Chauhan and Justice Sushil Kukreja has observed that as per the record the objections were raised only by the Audit Party and, therefore, reasons have been recorded on borrowed satisfaction of …

Record Court Assessment Income Case Department Reasons

6 months ago

Allahabad High Court Monthly Tax Digest: May 2024

Live Law

NOMINAL INDEX Mr. Pranay Dhabhai v. State Of U.P. Lucknow 2024 LiveLaw 357 Ravindra Pratap Shahi v. Union Of India And 2 Others 2024 LiveLaw 358 M/S Ace Manufacturing Systems Limited v. State Of U P And 3 Others 2024 LiveLaw 360 ORDERS/ JUDGMENTS OF THE MONTH Tax Dues Can't Be Collected From Director Of Company Under Liquidation Unless Provided …

Income Tax Capital Goods State Held High Singh Act

7 months 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 …

Received Gst Bombay Petitioner Directorate General Issued Merely

7 months ago

No Change In Opening And Closing Stock Of NCDs; Bombay High Court Quashes Reassessment Notice

Live Law

The Bombay High Court has quashed the reassessment notices as there was no change in the opening and closing stock of the non-convertible debts.The Bench of Justice K. R. Shriram and Justice Neela Gokhale has observed that the reopening of assessment by the notice was merely on the basis of a change of opinion of the AO. The Bombay High …

Opinion Change Tax Assessment Income Notice Opening

7 months, 1 week ago

UPVAT | Computation Of Correct ITC Be Examined By Assessing Authority Not Later Than Stage Of Making Regular Assessment Order: Allahabad High Court

Live Law

The Allahabad High Court has held that computation of correct input tax credit can only be done till the passing of the regular assessment order by the Assessing Authority and not at a later stage. Section 29 of the UPVAT Act empowers the Assessing Authority to initiate reassessment proceedings against an assesee if there is “reason to believe” that whole …

Tax Court Reassessment Assessment Order Held Proceedings

7 months, 2 weeks ago

Reassessment Order Can't Merely Be Based On Tax Evasion Report Or An Audit Report: Orissa High Court

Live Law

The Orissa High Court has held that reassessment orders cannot merely be based on a tax evasion report or an audit report.The bench of Justice B.R. Sarangi and Justice G. Satapathy has observed that it is not enough if the Assessing Officer refers to the tax evasion report or an audit report; he has to independently apply his mind and …

Tax Court Reassessment Order Report Notice Orissa 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 …

Supreme Court High Court Court Reassessment Assessment Union Order

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 …

Court Income Tax Kerala High Court Income Audit Act Ker

8 months, 3 weeks ago

The canonized and vilified Capt. James Cook is ready for a reassessment

LA Times

Book Review The Wide Wide Sea: Imperial Ambition, First Contact and the Fateful Final Voyage of Captain James Cook By Hampton Sides Doubleday: 432 pages, $35 If you buy books linked on our site, The Times may earn a commission from Bookshop.org, whose fees support independent bookstores. In his new book, “The Wide Wide Sea,” Sides examines every aspect of …

England World English Ships Crew Cook Sea

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 …

Tax Congress Assessment Party Notice

Filters

Articles for Reassessment

There Cannot Be 'Disconnect' Between Reasons For Initiating Reassessment U/S 147 Of IT Act & Grounds On Which Final Order Is Passed: Delhi HC

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

Ombudsman calls for reassessment of protest rights in the Netherlands

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

Proper Officer Must Provide 'Reason To Doubt' Value Of Goods Declared By Importer Before Initiating Reassessment U/S 17 Customs Act: Delhi HC

Customs Act | Importer Accepting Enhanced Valuation Of Goods For Expeditious Clearance Not 'Waiver' Of Right To Contest Re-Assessment: Delhi HC

Telangana HC Directs Reassessment of Compensation in SCCL Land Case

Rajasthan High Court Quashes Income Tax Reassessment As Income Tax Dept. Failed To Hold Proper Investigation

Liquidator Never Informed Of Reassessment Proceedings, Patna High Court Quashes Order

Direct Tax Weekly Round-Up: 4 To 10 August 2024

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

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

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

ITAT Half Yearly Digest: January To June 2024 - PART I

Assessment Re-Opened By Dept. Based On 'Change Of Opinion'; Himachal Pradesh High Court Quashes Reassessment

Allahabad High Court Monthly Tax Digest: May 2024

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

No Change In Opening And Closing Stock Of NCDs; Bombay High Court Quashes Reassessment Notice

UPVAT | Computation Of Correct ITC Be Examined By Assessing Authority Not Later Than Stage Of Making Regular Assessment Order: Allahabad High Court

Reassessment Order Can't Merely Be Based On Tax Evasion Report Or An Audit Report: Orissa High Court

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

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

The canonized and vilified Capt. James Cook is ready for a reassessment

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