Tag: reopening 148

No infirmity in reopening on the reasoning that no return was filed by the assessee when assessee was using two different PANs, one for bank operation and other for filing ITR – ITAT  In a recent judgment ITAT Allahabad has held that there was no infirmity in the …

Notice u/s 148 sent to some incorrect e-mail ID held as non-est and bad in law. ITAT quashed re-assessment order. In a recent judgment, ITAT Delhi held that notice u/s 148 sent to some incorrect e-mail ID was non-est and bad in law. ITAT quashed re-assessment order. ABCAUS …

Reopening u/s 148 was rightly done as income of the company was shifted to partnership firm to avoid tax by setting off bad debts – SLP dismissed by Supreme Court In a recent order/judgment, Hon’ble Supreme Court has dismissed the SLP filed by the assessee company against the …

Third party statement taken after recording reasons cannot form basis of Assessing Officer’s “reasons to believe” to reopen the assessment – ITAT  In a recent judgment, ITAT Delhi has held that third party statement recorded subsequent to the reasons recorded, cannot form basis of Assessing Officer’s “reasons to …

Income Tax Re-assessment notices under old regime period can be issued after 01.04.2021 under TOLA – Supreme Court In a recent judgment, the Hon’ble Supreme Court has held that time extension under TOLA will continue to apply for issue of re-assesment notice after 1st April 2021 if any …

Addition made to income on account of travelling expenses to Pakistan – ITAT remands case to AO for verification In a recent judgment, the Amritsar ITAT has restored the issue of addition made to income on account of travelling expenditure to Pakistan for verification of source of expenditure. …

Order passed u/s 148A(d) set aside as personal hearing was not given to submit objections In a recent judgment, Hon’ble Madras High Court has set aside the order passed u/s 148A(d) and notice u/s 148A for not providing opportunity of personal hearing to submit his objections to reopening. …

Failure to file Form 10CCB with return do not constitute escapement of income – High Court In a recent judgment, the Hon’ble High Court has held that failure to electronically upload Form 10CCB along with its Return of Income within due date u/s 139 would not constitute a …

Issue decided on merits by ITAT cannot again be subject matter of reopening of assessment under section 147 In a recent judgment, ITAT Delhi has held that once the issue has been decided on merits by the Tribunal, being the highest fact finding authority and a categorical finding …

AO obliged to consider the response filed by assessee on e-filing portal though belatedly, before passing the final order – High Court In a recent judgment, the Hon’ble High Court of Calcutta has held that once, assessee files response though belatedly, before passing the final order, the assessing …