Cases Reported in ITR | Latest Cases on Income Tax Laws
Explore the latest cases reported in SCC’s Income Tax Reports (ITR) Volume on Income tax deductions, Depreciations, Reassessment, Appeal and much more.
reassessment
Section 3(1), TOLA overrides Section 149 of Income Tax Act only to the extent of relaxing time limit for issuance of a reassessment notice: SC
The Court stated that TOLA will continue to apply to the Income Tax Act after 1-4-2021 if any action or proceeding specified under the substituted provisions of the Income Tax Act falls for completion between 20-3-2020 and 31-3-2021.
Can income-tax reassessment notice under S. 148 be issued on ‘change of opinion’ for material scrutinised in previous assessment? Gujarat HC answers
Documents relating to proof of deduction under Section 54F of the Act; Bank statement showing payment for above deduction; Statement justifying sale consideration; Working of capital gain were all furnished by the assessee.
‘SC’s 2023 decision in Ashish Agarwal does not deprive assessee of the right to question initiation of reassessment based on S.149(1)’; Delhi HC quashes notice against Genpact India
‘Although Genpact had alluded to the amended statutory regime that had come into existence and had informed the AO of the obligation to follow the procedure under Section 148A, no legal challenge was instituted to impugn the action commenced by notice dated 30-06-2021.’
‘Revenue Audit Objections a valid ground under Section 148 of Income Tax Act for reopening concluded assessment’: Allahabad HC
“There is no dispute regarding explanation given under Section 148 regarding information that can be relied upon by the Assessing Officer to reopen assessment of escaped income.”
Delhi High Court quashes reassessment notice for AY 2013-14 due to exceeding statutory time limit under Income Tax Act
The Court quashed the notice of reassessment issued on 31-3-2023 as it surpassed the ten-year block as prescribed u/S first provision to Section of 148(1) of the Income Tax Act, 1961.
Over 90, 000 Reassessment Notices issued after April 1, 2021 saved as Supreme Court directs them to be treated as notices under Section 148A of Income Tax Act
Supreme Court: The bench of MR Shah* and BV Nagarathna, JJ has modified the order passed by the Allahabad High Court wherein
Delhi High Court upholds reassessment of NDTV by Income Tax Department
Delhi High Court: A Division Bench of the Delhi High Court upheld the notice of the IT department proposing reassessment for NDTV