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

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Commission Agent not obliged to get Account Audited, Penalty u/s 271 B not leviable: ITAT [Read Order]

Yogitha S. Yogesh

The Pune bench of the Income Tax Appellate Tribunal ( ITAT ) has held that the commission agent is not obliged to get the account audited and the...

Re-Assessment without Considering Objections of Assessee and Opportunity for Personal Hearing Not...

Initiation of Re-assessment proceeding beyond six years is barred by Limitation, not valid: Calcutta...

Misuse of Bank Account proved by Assessee through FIR and Charge sheet, ITAT directs Re-adjudication...

Reassessment Notice issued without following Provision u/s 148A is not valid: Kerala HC [Read Order]

Amendments in Income Tax Act under Finance Act 2021 do not affect notices issued prior to April 1st, 2021: Orissa HC [Read Order]

The Orissa High Court held that amendments in Income Tax Act under Finance Act 2021 do not affect notices issued prior to April 1st, 2021. The appellant in the present appeal is StalcoConsultancy...

Notice issued u/s 148 of Income Tax Act to a Non-Existing Company is Null: Delhi HC [Read Order]

The Delhi High Court (HC) held that the notice issued u/s 148 of the Income Tax Act,1961 to a non-existing company is null. Mr Kapil Goel, Advocate appeared for the petitioner and Mr Ruchir...

Onus is on Assessee to establish that Expenditure was incurred for Business: ITAT [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ), held that onus is on assessee to establish that expenditure was incurred for business. The assessee company, Green Twig Estate...

Income Tax: Pre-Consultation Notice u/s 148A(b) cannot be Challenged through Writ Petition, rules Madhya Pradesh HC [Read Order]

In a significant ruling, the Madhya Pradesh High Court, while dismissing a writ petition, has held that the notice under section 148A(b) of the Income Tax Act, 1961 cannot be challenged through a...

Reassessment Powers not to be exercised for purpose of re-verification or merry sailing for rowing inquiry: Gujarat HC [Read Order]

A Division Bench of the Gujarat High Court held that reassessment powers not to be exercised for purpose of re verification or merry sailing for rowing inquiry. The petitioner, Piyush Ambalal...

Monetary Limit of Rs. 50 Lakhs not applicable to Notice u/s 148 unless Time Barred: Delhi HC dismisses Writ Petition by Assessee [Read Order]

In a recent decision of a Division Bench of the Delhi HIgh Court, it was held in favour of the Income Tax Department that, a notice served to the assessee under Section 148 of the Income Tax Act,...

Re-Assessment proceedings initiated beyond the Limitation Period are not sustainable: Calcutta HC [Read Order]

The Calcutta High Court held that the reassessment proceedings initiated beyond the limitation period are not sustainable. The petitioner, SS Commotrade Private Limited challenged the order dated...

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