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Articles for Reassessment, search results for 2022

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 …

Court Income Tax Kerala High Court Income Audit Act Ker
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 …

Reassessment Assessment Income Tax Order Income Case Act
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 …

Limitation Period Notice Fifth Issued Bombay Godrej
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 …

Tax Court Reassessment Assessment Income Notices Notice
Delhi High Court Stays Reassessment Order Based On Internal Audit Objection
1 year, 10 months ago

Delhi High Court Stays Reassessment Order Based On Internal Audit Objection

Live Law  

The Delhi High Court has stayed the reassessment order based on an internal audit objection.The division bench of Justice Rajiv Shadher and Justice Tara Vitasta Ganju has observed that the expression "any audit objection" was introduced only by the Finance Act, 2022, although with effect from April 1, 2012. The Delhi High Court has stayed the reassessment order based on …

Reassessment Delhi High Court Based Act Petitioner Section 148 Reassessment Proceedings
Information Triggering Reassessment Proceedings Needs To Be Furnished To The Assessee: Delhi High Court
1 year, 10 months ago

Information Triggering Reassessment Proceedings Needs To Be Furnished To The Assessee: Delhi High Court

Live Law  

The Delhi High Court has held that the underlying information or material that formed the basis for triggering the assessment or reassessment proceedings was required to be furnished to the assessee.The division bench of Justice Rajiv Shakdher and Justice Tara Vitasta Ganju has noted that the petitioner has indicated that it will file a further response once the information or …

Information Delhi High Court Roc Section 148
Reassessment Notice Can't Be Challenged If Assessee Failed To Submit Crypto Currency Account Transactions: Rajasthan High Court
2 years, 3 months ago

Reassessment Notice Can't Be Challenged If Assessee Failed To Submit Crypto Currency Account Transactions: Rajasthan High Court

Live Law  

The Rajasthan High Court has held that the reassessment notice cannot be challenged if the assessee failed to submit crypto currency account transactions to the income tax department. A notice under Section 148A was issued to the petitioner stating that information received suggests that income chargeable to tax for the assessment year 2018-19 has escaped assessment. The Assessing Officer was …

Tax Information Investment Crypto Income Currency Transactions
Issuance Of Notice And Initiation Of Reassessment Proceeding Beyond 6 Years: Calcutta High Court Stays Proceedings
2 years, 3 months ago

Issuance Of Notice And Initiation Of Reassessment Proceeding Beyond 6 Years: Calcutta High Court Stays Proceedings

Live Law  

The Calcutta High Court has held that the issuance of notice and initiation of reassessment proceedings were beyond 6 years. The petitioner has challenged the order issued under Section 148A of the Income Tax Act of 1961 for the assessment year 2014-15, as well as all subsequent proceedings based on the notice issued under Section 148 of the Income Tax …

Proceedings Section 148 Reassessment Proceeding Issuance Of Notice And Initiation Of Reassessment Proceeding
Show Cause Notice And Reassessment Order Based On Distinct And Separate Grounds, No Details Of Bogus Purchases Were Given: Delhi High Court Quashes The Order.
2 years, 4 months ago

Show Cause Notice And Reassessment Order Based On Distinct And Separate Grounds, No Details Of Bogus Purchases Were Given: Delhi High Court Quashes The Order.

Live Law  

The Delhi High Court has held that the show cause notice as well as the reassessment order under Section 148A of the Income Tax Act were based on distinct and separate grounds. The division bench of Justice Manmohan and Justice Manmeet Pritam Singh Arora has observed that "the show cause notice primarily states that "it is seen that the petitioner …

Order Cause Notice Gst Details Provide Purchases
Madras High Court Half Yearly Digest: January to June 2022 [Citation 1- 276]
2 years, 4 months ago

Madras High Court Half Yearly Digest: January to June 2022 [Citation 1- 276]

Live Law  

NOMINAL INDEX M/s.The Kancheepuram Reading Room and Tennis Club, Represented by its Secretary v. The Director-General of Police & Ors, 2022 LiveLaw 1 The University of Madras, Rep. By its Registrar v. Dr. S. Bhaskaran & Ors., 2022 LiveLaw 2 Payel Biswas v. The Commissioner of Police, Trichy City & Ors., 2022 LiveLaw 3 All India Anna Dravida Munnetra Kazhagam …

India Tamil Nadu Supreme Court High Court Higher Education Constitution Court
Tax Cases Monthly Round-Up: June 2022
2 years, 5 months ago

Tax Cases Monthly Round-Up: June 2022

Live Law  

Direct Tax: Delhi High Court: Underreporting Of Income Due To Re-Computation Of Disallowance By The AO, Does Not Amount To Misreporting Of Income: Delhi High Court Case Title: Prem Brothers Infrastructure LLP. Notice Issued Under Section 148 Of The Income Tax Act Against ADeceased Assessee Is Invalid : Reiterates Delhi High Court Case Title: Davinder Singh Thapar versus Assistant Commissioner …

India Justice Delhi Supreme Court High Court Tax Court
Time Of 8 Hours To File Reply To Show Cause Notice, Not Reasonable: Delhi High Court
2 years, 7 months ago

Time Of 8 Hours To File Reply To Show Cause Notice, Not Reasonable: Delhi High Court

Live Law  

The Delhi High Court bench of Justice Manmohan and Justice Dinesh Kumar Sharma has held that the time of eight hours to file a reply to the show cause notice was neither reasonable nor effective. The petitioner/assessee submitted that the reasonable time was not given to file a reply to the show cause notice, which was issued only on March …

Show Cause Notice Order Cause Notice 2022 Petitioner File Reply
'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, 8 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 …

Tax Court Assessment Income Issue Sec Section 148
Madras High Court Weekly Round-Up: February 7, 2022 To February 13, 2022
2 years, 10 months ago

Madras High Court Weekly Round-Up: February 7, 2022 To February 13, 2022

Live Law  

A weekly round-up of important cases from Madras High Court and its subordinate courts. Leena Manimekalai Passport Impounding Case: Madras High Court Declines Leave To Susi Ganesan For Filing Appeal Against Single Bench Order Case Title: Susi Ganesan v. Leena Manimekalai & Anr. Order VI Rule 17 For Amendment Of Pleadings Do Not Apply To Section 34 Petitions Under Arbitration …

India Justice Tamil Nadu Title Order Case Urban Local Bodies