Read all Latest Updates on and about section 148 for the Income Tax Act

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Addition made u/s69 of Income Tax Act towards Purchase and Sale of Shares without Sufficient Evidence: ITAT Directs Re-adjudication [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) directed the Assessing Officer (AO) for re-adjudication of additions made under section...

Relief to Triokaa Pharmaceuticals: Gujarat HC quashes Income Tax Notice issued on violation of...

Reassessment Proceedings can be Triggered only when Notice u/s 148 of Income Tax Act has been issued...

Delhi HC sets aside Reassessment Order under Income Tax Act Triggered Mistakenly [Read Order]

Gujarat HC sets aside Reopening Notice Issued under Income Tax Act Without Disclosing Reason or...

ITAT quashes Reassessment Proceeding initiated u/s 147 of Income Tax Act on basis of vague Report of Investigation Wing without applying mind [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi bench, quashed reassessment proceedings initiated under section 147 of the Income Tax Act, 1961, on the basis of a vague report from the investigation...

CBIC exempts Foreign Airlines from Furnishing Reconciliation Statement under FORM GSTR-9C [Read Notification]

The Central Board of Indirect Taxes and Customs (CBIC) has exempted the foreign airlines from furnishing reconciliation statements under Form GSTR-9C. The Department of Revenue under the Ministry of...

Re-Assessment for second time without Notice is Invalid: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chennai bench has held that the assessment cannot be re-opened for the second time without issuing a re-assessment notice under section 148 of the Income Tax...

Act of Superior Officers Approving AO’s Mistake Amounts to Non-Application of Mind: Delhi HC Quashes Re-assessment [Read Judgment]

While quashing re-assessment proceedings under section 148 of the Income Tax Act, 1961, Justices S Muralidhar and Prathiba M singh had held that when AO committed a mistake and under 151, ADIT and DIT...

Assessing Officer is bound to Record Reason for Re-Assessment in the notice after 4 years: Madras HC [Read Judgment]

Recently, in the case of ACIT Chennai v. Apollo Hospital Enterprises Ltd, division bench of the Madras High Court upheld the order of the single bench that notice for re-assessment after four years of...