Read all Latest Updates on and about Section 147 of the Income Tax Act

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Delhi HC Issues Guidelines for Re-Opening of Assessment under Income Tax Act [Read Order]

Taxscan Team

Justices S Muralidhar and Prathiba M Singh of Delhi High Court, in a significant ruling, issued guidelines to be followed by the income tax...

Madras HC quashes IT Assessment against Former Environment Minister Jayanthi Natarajan [Read Order]

Limitation Period of 4 years for Re-Assessment is an Exception and not the Rule: Delhi HC [Read...

Re-Assessment is not permissible when the Appeal against Original Assessment order is not Disposed:...

Information from Investigation Wing of IT Department cannot be a Sole Basis for Re-Assessment: Delhi...

Re-Assessment without any ‘Fresh Tangible Materials’ is Invalid: ITAT Kolkata [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal, recently in ACIT v. BNK E Solutions Pvt Ltd, ruled that re-assessment solely based on the original assessment records and without any fresh...

Appeal is not a Proper Remedy to Cure the Defects in Appeal: ITAT Kolkata says Re-Assessment is for the benefit of Revenue, not for Assessee

In Hareram Koley v. ITO, the Kolkata ITAT ruled that the defects committed by the assessee at the time of filing returns cannot be corrected through the appeal since it is not the proper remedy for...

Re-Assessment proceedings solely based on objection of Audit Para are Invalid: ITAT Jaipur [Read Order]

In a recent ruling, the Jaipur bench of the Income Tax appellate Tribunal held that the re-assessment under section 147 of the Income Tax Act are invalid if the same is based solely on the objection...

An Unsigned Agreement is not a Valid Evidence against the Assessee: ITAT Chandigarh [Read Order]

While quashing a re-assessment order passed against the assessee, the Income Tax Appellate Tribunal (ITAT), Chandigarh bench held that an unsigned agreement is not a valid evidence and therefore, the...

Proceedings u/s 147 can be initiated beyond the period of 4 Years If the AO has a valid ‘reason to believe”: Gujarat HC [Read Judgment]

The division bench of the High Court of Gujarat, in a recent decision held that the if the Assessing Officer(AO) has sufficient reason to believe that the assessee had escaped income, then he can...