In my considered view the impugned notices under section 148 of the Income-tax Act, 1961 and the proceedings under section 147 of the Act are not sustainable in law and should be quashed for the reason that admittedly impugned proceeding initiated under section 147 and notices issued under section 148 of the Income-tax Act, 1961,… Read More »
Complete Guide to REASSESSMENT u/s 148 of the Income Tax Act, 1961 by RAMESH K. PATODIA (Author) Price Rs 535 Click here to buy online Paperback: 408 pages Publisher: BHARAT LAW HOUSE PVT LTD; 1st edition (2019) About Complete Guide to REASSESSMENT u/s 148 of the Income Tax Act, 1961 Chapter 1 Analysis of statutory provisions relating to reassessment under the Income-tax… Read More »
Madras High Court CIT Vs. M/s. Indian Potash Ltd. Tax Case Appeal No.1363 of 2008 Date of Judgement/Order : 11/09/2018 Related Assessment Year : 1998-99 This appeal filed by the Revenue is directed against the order passed by the Income Tax Appellate Tribunal Bench A, Chennai, in I.T.A.No.2025/Mds/2006, dated 14.03.2008 for the Assessment Year 1998-1999.… Read More »
HIGH COURT OF BOMBAY Mohanlal Champalal Jain v. Income Tax Officer, Ward 1(2), Thane AKIL KURESHI AND M. S. SANKLECHA, JJ. WRIT PETITION NO. 3629 OF 2018 JANUARY 31, 2019 Devendra H. Jain for the Petitioner. Sham Walve for the Respondent. ORDER 1. The petitioner has challenged a notice of reopening of assessment dated 28.3.2018 issued by respondent No.… Read More »
The reasons recorded in support of the impugned notice was merely on the basis of borrowed satisfaction of the audit party. This also makes the impugned notice bad. HIGH COURT OF BOMBAY Commissioner of Income-tax-14, Mumbai v. Shankardas B. Pahajani M.S. SANKLECHA AND SANDEEP K. SHINDE, JJ. IT APPEAL NO. 1432 OF 2007 APRIL 24, 2018 P.C.… Read More »
Held The Assessing Officer did not attempt to verify the address of the assessee from his own record as well as did not mention the correct address in the notice under section 148 of the Income Tax Act It is well settled law that Assessing Officer will have no jurisdiction to make an assessment under… Read More »
Facts of the Case:- GKN Driveshafts (India) Ltd’s case , the Supreme Court had directed as under:— “However, we clarify that when a notice under Section 148 of the Income-tax Act is issued, the proper course of action for the noticee is to file return and if he so desires, to seek reasons for issuing… Read More »
Assessment year 2010-11 Facts of the case: One of income-tax officers was designated to collect AIR information and to make necessary enqury .Designated officer having received information from AIR, issued notice under section 148 to assessee . He also made an attempt to frame assessment over assessee .When assessee raised objection about his jurisdiction over… Read More »
Facts of the Case :- Assessing Officer finalised assessment under section 143(3) .Assessing Officer issued notice under section 148 as Assessing Officer had reasons to believe that taxable income had escaped assessment . In reasons recorded by Assessing Officer, he stated that certain amounts remain untaxed because of non co-ordination between Departmental Officers. However, it… Read More »
Whether reassessment at instance of audit party on account of non-inclusion of excise duty refund in total income was unjustified ? Held, yes HIGH COURT OF GUJARAT Raajratna Metal Industries Ltd. v. Assistant Commissioner of Income-tax M.R. SHAH AND K.J. THAKER, JJ. SPECIAL CIVIL APPLICATION NO. 7140 OF 2014 JULY 30, 2014 B.S. Soparkar for… Read More »