Provisions of Section 13(1)(b) cannot be invoked to deny trust registration under Section 12A. Issue Whether the provisions of Section 13(1)(b) can be invoked at the stage of granting registration under Section 12A/12AB to reject an application, or if they apply solely at the stage of assessment when examining the grant of exemption. Facts Application… Read More »
Reassessment Under Section 148 Based on Non-Deduction of TDS and Written-Off Advances Is Invalid Due to Change of Opinion Reassessment Under Section 148 Based on Non-Deduction of TDS and Written-Off Advances Is Invalid Due to Change of Opinion Issue Whether issuance of a reassessment notice under Section 148 after four years is valid when the… Read More »
Section 148 Notice for AY 2015-16 Issued Post-Ashish Agarwal Beyond Limitation Period Is Invalid Issue Whether a Section 148 reassessment notice for Assessment Year 2015–16 issued on July 27, 2022, pursuant to the Supreme Court’s Ashish Agarwal ruling, is barred by limitation under the principles laid down in Union of India v. Rajeev Bansal. Facts… Read More »
Reassessment Notice Issued Beyond Limitation Period Under TOLA for AY 2015-16 Is Invalid Reassessment Notice Issued Beyond Limitation Period Under TOLA for AY 2015-16 Is Invalid Issue Whether the Section 148A(d) order and Section 148 notice issued on 27.07.2022 for Assessment Year 2015-16 were barred by limitation under the new reassessment regime as interpreted in… Read More »
Short Response Window and Unsubstantiated Veil-Lifting Invalidates Section 179 Recovery Order Against Directors Issue Whether a Section 179 order holding directors liable for a public limited company’s tax dues is legally sustainable when issued with only two days’ response time and without providing foundational facts to lift the corporate veil. Facts Tax Default and Notice:… Read More »
Section 80-I Profits Are Computed Without Deducting Section 32AB Allowances for Tax Exemption Purposes Issue Whether, while computing deduction under Section 80-I of the Income-tax Act, 1961, the profits and gains of an industrial undertaking should be taken without reducing the deduction allowable under Section 32AB, in view of Section 80AB. Facts Assessment Year: The… Read More »
Reopening Based on Surmises from Sister Concern’s Survey Evidence Without Direct Proof Is Invalid Reopening Based on Surmises from Sister Concern’s Survey Evidence Without Direct Proof Is Invalid Issue Whether a completed assessment under Section 143(3) can be validly reopened under Section 148 based on presumptions and survey findings from a sister concern without any… Read More »
Section 148 Reassessment Notice Issued Beyond Ten-Year Block Period Calculated From Search Date Is Time-Barred Section 148 Reassessment Notice Issued Beyond Ten-Year Block Period Calculated From Search Date Is Time-Barred Issue Computation of Ten-Year Block Period under Section 153A/153C: Whether the assessment year relevant to the previous year in which the search was conducted is… Read More »
Section 263 Revision Is Invalid Where Restricting Bogus Purchase Addition To 12.5% Is Plausible Issue Validity of Section 263 Revision on Plausible Disallowance Views: Whether the Principal Commissioner of Income Tax (PCIT) can invoke revision powers under Section 263 to demand a 100% addition under Section 69C (taxed under Section 115BBE) when the Assessing Officer… Read More »
Reassessment Valid as Wealth Tax Disclosures Do Not Exempt Taxpayer From Proving Income Sources Issue Validity of Reassessment under Section 147 for Unexplained Investments: Whether a notice issued under Section 148 for unexplained investment in property (including a substantial cash component) is valid when the original return was processed only under Section 143(1), even if… Read More »