The Tribunal held that reassessment remains valid when the notice is issued while the company is still on the ROC records. Subsequent striking off does not nullify initiated ...
The Tribunal held that reassessment based on a notice issued by the wrong authority cannot survive in law. The decision highlights strict adherence to procedural requirements under the faceless ...
ITR reassessment: Filing income tax returns, a crucial financial task, poses complexity and error potential, possibly leading to an unsettling tax notice issuance by ...
Have you also received notice from the income tax department under Section 148? Know what you can do
For the assessment year 2018-19 or subsequent years, if your undisclosed income is more than Rs 50 lakh, you may receive a Section 148 notice from the Income Tax Department by August 31, 2024. If ...
Under Section 148 of the Income Tax Act, 1961, a notice can be issued by the Assessing officer to reassess a taxpayer's income tax return (ITR) if he has reason to believe that any income chargeable ...
Some income taxpayers have reportedly received notices under section 148, which is related to the reopening of assessments for the assessment years 2014-15, 2015-16, 2016-17 and 2017-18. A former ...
In a decision that has far-reaching implications, the Supreme Court declared that notices served under Section 148 of the Income Tax Act, must be deemed to have been issued under 148A. The decision of ...
Union Budget: The Finance Bill 2024 introduces amendments to Section 148A of the Income-Tax (I-T) Act, which pertain to the time limits for issuing notices regarding the reopening of assessments.
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