Tag Archives: Section 148

Territorial jurisdiction issue can’t be raised after 30 days issuance of reassessment notice

Held Section 124(3) stipulates a bar to any contention about lack of jurisdiction of an AO. It is not as if the provisions of the Act disable an assessee from contending that in the given circumstances the AO lacks jurisdiction; rather Section 124(3) limits the availability of those options at the threshold. The assessee upon… Read More »

Functionality for generation of Scrutiny notice u/s 143(2)/148

DIRECTORATE OF INCOME TAX (SYSTEM) ARA Center, Ground Floor, E-2, Jhandewalan Extension, New Delhi – 110055 ITBA-Assessment Instruction No. 2 F.No. System/ITBA/Instruction/Assessment/16-17/177 Dated: 01/08/2016 To The Principal Chief Commissioners of Income-tax/ CCsIT (By Name) Ahmedabad/ Allahabad/ Amritsar/ Bangalore/ Baroda/ Bhopal/ Bhubaneshwar/ Bareilly/Chandigarh/ Chennai/ Cochin/ Coimbatore/ Dehradun/ Delhi/ Durgapur/ Guwahati/Huhli/ Hyderabad/ Indore/ Jaipur/ Jalpaiguri/ Jodhpur/ Kanpur/… Read More »

If time limit for issue of scrutiny notice not expired, Income escaping notice couldn’t be issued

IN THE ITAT CHANDIGARH BENCH Vardhman Holdings Ltd. v. Assistant Commissioner of Income-tax, Circle-1, Ludhiana H.L. KARWA, VICE-PRESIDENT AND MS. RANO JAIN, ACCOUNTANT MEMBER IT APPEAL NOS. 523 & 621 (CHD.) OF 2008 AND 1136 (CHD.) OF 2011 [ASSESSMENT YEAR 2002-03] MAY  5, 2016 Subhash Aggarwal and Vineet Jain for the Appellant. S.K. Mittal, DR… Read More »

Reasons recorded to be supplied for income which escaped assessment

Whether it is absolutely necessary that reasons recorded for formation of belief that income of assessee has escaped assessment, are supplied to assessee so that he may be in position to question legality of re-assessment proceedings initiated on all available grounds ? Held, yes  Whether where Assessing Officer issued reassessment notice to assessee but reasons… Read More »

No reassessment because income remained untaxed due to non coordination between departmental officers

Facts of the Case :- Assessing Officer finalised assessment under section 143(3) .Assessing Officer issued notice under section 148 as Assessing Officer had reasons to believe that taxable income had escaped assessment . In reasons recorded by Assessing Officer, he stated that certain amounts remain untaxed because of non co-ordination between Departmental Officers.  However, it… Read More »