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FAOs And JAOs Have Concurrent Jurisdiction For Assessment, Re-assessment Or Re-Computation U/S 147 Income Tax Act: Madras High Court
5 days, 5 hours ago

FAOs And JAOs Have Concurrent Jurisdiction For Assessment, Re-assessment Or Re-Computation U/S 147 Income Tax Act: Madras High Court

Live Law  

The Madras High Court recently clarified that both the Faceless Assessment Officer and Jurisdictional Assessment Officer have concurrent jurisdiction as far as assessment, re-assessment or re-computation under Section 147 of the Income Tax Act. In such case, the FAO will not have any jurisdiction to make assessment, re-assessment or re-computation…As far as the issuance of notice under Section 148 of …

Jurisdiction Tax Court Assessment Income Notice Act
Reviewing Officer Comments Contrary To Entries In ACR, Delhi High Court Directs Reassessment Of Grades
2 months ago

Reviewing Officer Comments Contrary To Entries In ACR, Delhi High Court Directs Reassessment Of Grades

Live Law  

A division Bench of the Delhi High Court comprising Justices C Hari Shankar and Sudhir Kumar Jain set aside the Order of a Single Judge Bench wherein a Petition seeking to change the Appellant's Grade from '3' to '1' was dismissed. The Court directed the Respondents to reassess the overall performance of the Appellant in accordance with law considering the …

Counsel Performance Court Order Officer Bench Single
Assessment Re-Opened By Dept. Based On 'Change Of Opinion'; Himachal Pradesh High Court Quashes Reassessment
6 months, 1 week 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
Allahabad High Court Monthly Tax Digest: May 2024
6 months, 3 weeks 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
Reassessment Order Can't Merely Be Based On Tax Evasion Report Or An Audit Report: Orissa High Court
8 months 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
Assessment Can Be Reopened Based On Audit Objections Under New Reassessment Regime: Kerala High Court
9 months, 1 week 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
Belief Of AO Regarding Escapement Of Income Should Be Based On Some Tangible Information: Kolkata ITAT Quashes Reassessment
9 months, 3 weeks ago

Belief Of AO Regarding Escapement Of Income Should Be Based On Some Tangible Information: Kolkata ITAT Quashes Reassessment

Live Law  

The Kolkata ITAT recently clarified that mere information regarding transfer of funds is no basis to conduct reassessment once source of such transfer was sufficiently established through banking channel. The Bench noted that the only information received by the Assessing Officer from Investigation Wing was that the assessee had received funds worth Rs.2,20,00,000/- from M/s Solvent Real Estate Pvt. Further, …

Kolkata Information Income Estate Real Funds Bench
After Amendment Mere Reason To Believe Can't Be Ground For Carrying Out Reassessment: Karnataka High Court
10 months, 3 weeks ago

After Amendment Mere Reason To Believe Can't Be Ground For Carrying Out Reassessment: Karnataka High Court

Live Law  

The Karnataka High Court has held that the Assessing Officer has to be prima facie satisfied that there is “escapement of income”, unlike earlier law which permitted action based on mere reason to believe. Now mere reason to believe, cannot be a ground for carrying out assessment under section 147 of the Income Tax Act.The bench of Justice Krishna S …

Tax Assessment Income Officer Kar Shares Believe
Bombay High Court Quashes Re-Assessment Order Based On Change Of Opinion Without Any Tangible New Information
1 year, 3 months ago

Bombay High Court Quashes Re-Assessment Order Based On Change Of Opinion Without Any Tangible New Information

Live Law  

The Bombay High Court has quashed the reassessment order based on a change of opinion without surfacing any tangible new information.The bench of Justice K. R. Shriram and Justice N. K. Gokhale has observed that the petitioner has fully and truly disclosed all material facts necessary for the purpose of assessment. The Bombay High Court has quashed the reassessment order …

Assessment Order Bombay Petitioner Section 148
S. 148 Income Tax Act| Notice Without DIN, Not Invalid, If Assesee Responds To Manual Notices: Allahabad High Court
1 year, 4 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 …

Notices Notice Petitioner Din Manual Notices
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
S.153A Income Tax Act| Can Assessments Be Reopened If No Incriminating Material Is Found During Search? Supreme Court Reserves Judgment
1 year, 11 months ago

S.153A Income Tax Act| Can Assessments Be Reopened If No Incriminating Material Is Found During Search? Supreme Court Reserves Judgment

Live Law  

The Supreme Court on Thursday reserved its judgment on whether in an assessment under section 153A of the Income Tax Act, besides the incriminating material found during search, such materials which the Assessing Officer has on hand and the third party records available can be relied on to assess total income, or whether the assessment has to confined only to …

Delhi Supreme Court High Court Judgment Tax Court Search
S.153A Income Tax Act| Can Assessments Be Reopened If No Incriminating Material Is Found During Search? Supreme Court Starts Hearing
1 year, 11 months ago

S.153A Income Tax Act| Can Assessments Be Reopened If No Incriminating Material Is Found During Search? Supreme Court Starts Hearing

Live Law  

The Supreme Court on Wednesday commenced hearing on whether in an assessment under section 153A of the Income Tax Act, besides the incriminating material found during search, such materials which the Assessing Officer has on hand and the third party records available can be relied on to assess total income, or whether the assessment has to confined only to the …

Supreme Court High Court High Courts Tax Court Search Reassessment
Reassessment Notice Based On Error Resulting From Oversight Of AO Is Not Valid: Delhi High Court
2 years, 2 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 …

Tax Court Reassessment Assessment Delhi High Court Income Capital Gains
In The Absence Of A Full And True Disclosure, Reassessment Is Not Barred By Limitation: Madras High Court
2 years, 2 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 …

Assessment Bank Icici Wing Madras High Court Petitioner Disclosure
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, 5 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
Reassessment Proceedings Can't Be Initiated On Same Set Of Facts Available: ITAT
2 years, 6 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 …

Reassessment Assessment Income Proceedings Officer Act Itat