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

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Mere License to Enter the Property for Carrying Out Development not ‘Transfer’ for imposing Capital Gain Liability: ITAT [Read Order]

Taxscan Team

The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) has held that the mere license to enter the property for carrying out development not...

Notice Sent to Wrong Address which is Under-Constructing Plot of Assessee is Invalid: ITAT [Read...

Re-Assessment can’t be done merely because some Aspects of Deduction Claim was not Examined in...

Notice under Section 148 after 4 years from the end of AY without obtaining a sanction Bad in Law:...

Both ACIT and JCIT can sanction Notice for Re-Opening of Assessment: Allahabad HC [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,...

Re-Opening of Assessment without Application of Mind is Invalid: ITAT [Read Order]

The Agra Bench of the Income Tax Appellate Tribunal ( ITAT ) in the case of M/s Deepraj Hospital (P.) Ltd. v. ITO held that the proceedings initiated under Section 147 of the Income Tax Act and the...

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...

Re-Assessment passed after 4 years without Approval of Chief Commissioner or Commissioner of Income Tax is Invalid: Delhi HC [Read Judgment]

The Delhi High Court recently announced that the re-assessment passed under sections 147/ 148 of the Income Tax Act after 4 years without the approval of Chief Commissioner or Commissioner of Income...

ITAT Quashes Re-Assessment since Service of Notice by Affixture was done at a Wrong Address [Read Order]

Kolkata bench of Income Tax Appellate Tribunal (ITAT) recently quashed the re-assessment under section 147/148 of the Income Tax Act since service of notice by affixture was done at a wrong address. ...

ITAT confirms Penalty since Assessee failed to Disclose Income during Scrutiny Proceedings as well as Appellate Proceedings [Read Order]

While considering the appeal filed by the assessee Hyderabad bench of Income Tax Appellate Tribunal (ITAT) confirmed penalty imposed by the Assessing Officer (AO) since the assessee failed to disclose...

Export Incentives are not Includable while Computing Eligible Profits for Deduction u/s. 80IC: ITAT [Read Order]

The Income Tax Appellate Tribunal Mumbai bench recently pronounced that Export incentives are not Includable while computing eligible profits for deduction under Section 80IC of the Income Tax Act,...

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