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

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ITAT Sets Aside Reassessment Notices Issued u/s 148 for Lack of Proper Sanction Post Finance Act, 2021 [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) allowed appeals filed by Sampark Management Consultancy LLP, quashing reassessment ...

Buyer’s TDS Filing Error Won’t Deny NRI Seller's Full Credit: Delhi HC Orders Refund Processing...

Reassessment Triggered by 175% Spike in Penny Stock Gains Allegedly Manipulating Capital Gains:...

Gas Cylinder Distributor Not Received Income Tax Notice Due to Change of Email ID: Madras HC Waives...

Income Tax Notice issued Demanding Management Fee Paid to Oversea Company: Delhi HC sets aside...

Bombay HC quashes Income Tax Notice Issued u/s 148 which was beyond the time period specified under statute [Read Order]

In a recent case, the Bombay High Court has quashed the notice issued under section 148 of the Income Tax Act, 1961 which was issued beyond the period specified under section 149(1) of the Act...

DIN Requirement Breached Initially but Rectified Within 15 Days: Patna HC Validates Income Tax Notices [Read Order]

In a recent ruling, the Patna High Court upheld the validity of income tax reassessment notices, ruling that the initial procedural lapse concerning the absence of a Document Identification Number...

Unsubstantiated Foreign Remittances Ineligible for Exemption u/s 10(4): ITAT Partly Upholds Claim of NRI [Read Order]

In a recent decision, the Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) held that unsubstantial foreign remittances cannot qualify for exemption under Section 10(4) of the Income Tax...

Clean Slate Doctrine Under IBC Prevents Income Tax Dept from Reopening Assessments Excluded from Approved RP: Delhi HC [Read Order]

In a recent ruling, the Delhi High Court held that the Income Tax Department cannot raise claims that were not part of an approved resolution plan under the Insolvency and Bankruptcy Code (IBC),...

10-Year Extended Reassessment Invalid as Escaped Income Not Represented as Asset u/s 153A(1) Proviso: Delhi HC [Read Order]

In a recent judgment, the Delhi High Court ruled that the 10-year reassessment window allowed under the proviso to Section 153A(1) was inapplicable as the escaped income was not represented in the...

ITAT Confirms ₹4.10 Cr Addition U/s 69, Upholds Courts’ Authority to Dismiss Defaulted Cases [Read Order]

In a recent judgment, the Income Tax Appellate Tribunal (ITAT) of Surat upheld the addition made by the Assessing Officer (AO) under section 69 of the Income Tax Act, 1961, as the assessee failed to...

Reassessment u/s 147 on Mere Change of Opinion Invalid: ITAT [Read Order]

In a recent judgement, the Raipur bench of the Income Tax Appellate Tribunal (ITAT) held that reassessment cannot be done based on a mere change of opinion under section 147 of the Income Tax, 1961....

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