Read all Latest Updates on and about section 148 of the Income Tax Act 1961

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Changing Company Name & PAN Shifts Jurisdictional Income Tax Officer: Supreme Court sustains Quashing of Escaped Income Notice [Read Order]

The Supreme Court of India recently declined to interfere with a ruling of the Gujarat High Court by which it quashed an income tax reassessment...

Excel Sheet Found During Income Tax Search at Builder’s Premises Indicating Cash Transaction...

Faceless Assessment Mandatory: Punjab & Haryana HC Quashes S.148 Notice Issued by JAO [Read Order]

Delhi HC Reaffirms Concurrent Powers of JAO and FAO to Issue S.148 Reassessment Notices [Read Order]

Delhi High Court - Reassessment Notice - Reassessment Notice Issued to a Merged Entity - Reassessment Notice Issued - Merged Entity - Delhi High Court Quashes - taxscan

Delhi High Court Quashes Reassessment Notice Issued to a Merged Entity [Read Order]

Income Tax Annual Digest 2024: ITAT Cases [Part 9]

This annual round-up analytically summarizes all the Income Tax related Orders of the Income Tax Appellate Tribunal (ITAT) Benches of India reported at Taxscan.in during 2024. AO fails to issue...

Reassessment under Income Tax must be on Concrete Evidence and not Speculation: Delhi HC [Read Order]

In a recent judgment, the Delhi High Court struck down reassessment proceedings under Section 148 of the Income Tax Act, 1961 stating that there were no valid grounds and procedural lapses. The...

Trаnsаctiоns with Nоn-Еxistent Suppliers: Delhi HС upholds Reаssessment u/s 148 оf IТ Aсt [Read Order]

Тhe Delhi Нigh Cоurt, in а recent ruling, dismissed а рetitiоn filеd by Mаjestic Hаndicrаft Privаte Ltd chаllenging reаssessment nоtice аnd оrder аs pеr Sectiоns 147 аnd 148 оf thе Income Tаx Aсt...

No Jurisdiction vested with Jurisdictional Officer u/s 151A of Income Tax Act: Himachal Pradesh HC stays Notice u/s 148 [Read Order]

The Himachal Pradesh High Court, stayed an Income Tax notice issued under Section 148 of the Income Tax Act, 1961, on the grounds of lack of jurisdiction by the Jurisdictional Officer. In this...

Hardship allowances Received From Housing Developers to Compensate Dispossession are Non Taxable: ITAT [Read Order]

Recently in a case, the Income Tax Appellate Tribunal (ITAT) of Mumbai held that hardship and rehabilitation allowances received from housing developers as compensation for the hardship endured due...

Assessment Order u/s 148 of Income Tax Act passed without considering merging of Transferor Company: Madras HC sets aside Assessment Order [Read Order]

The Madras High Court set aside an assessment order under section 148 of the Income Tax Act, 1961 passed without Considering the Merging of Transferor Company. M/s.Shapoorji Pallonji Samalpatti...

Income Tax Notice issued u/s 148 on last date of Limitation Period not Time Barred: Delhi HC Dismisses Review Petition [Read Order]

The Delhi High Court held that the notice issued under section 148 Income Tax Act, 1961 on the last date of the limitation period was not time barred and dismissed the petition. Raminder Singh,...