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Reassessment

Re-Assessment become Void If it was made on the basis of Incriminating Materials found During Search of 3rd Party: ITAT

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the re-assessment passed under section 147/ 148 of the Income Tax Act...

Re-Assessment Notice should contain a 'Reason to believe' with supporting Evidence: Delhi HC [Read...

Madras HC disallows Reassessment Proceedings merely on Change of Opinion [Read Judgment]

Notice for Reassessment invalid If it is not served, rules Bombay HC [Read Order]

Reassessment u/s 147 void where No New Material came into Record: ITAT [Read Order]

Notice before Initiating Reassessment Proceeding is a Mandatory Requirement: ITAT [Read Order]

The ITAT Amritsar held that notice under Section 148 or 142(1) of the Income Tax Act which is served upon the deceased assessee or his sole legal heir is a mandatory requirement. In the instant case,...

Reassessment Proceeding must be initiated within the Time Limit prescribed under Section 149(1)(b): Chhattisgarh HC [Read Judgment]

The Chhattisgarh High Court in M/s. Ardent Steel Limited vs. ACIT & Anr. held that reassessment proceeding must be initiated within the time limit prescribed under Section 149(1)(b) of the Income...

Failure of Full Disclosure Valid Ground for Reassessment: Bombay High Court [Read Judgment]

In Ajeet Seeds Pvt. Ltd vs Union of India, the Bombay High Court approved the reopening of assessment under Section 147 read with Section 148 of the Income Tax Act, 1961 on the ground that the...

Reassessment Order under Sec 143(3) rws 147 without Notice is Invalid: ITAT [Read Order]

In a recent decision in Prakash Rameshbhai Nanda vs Income Tax Officer, Rajkot bench of Income Tax Appellate Tribunal (ITAT) recently held that reassessment order under Section 143(3) read with...