Assessment completed u/s 144C against a petitioner/Non-Resident ...

Income Tax

May 10, 2024

Assessment completed u/s 144C against a petitioner/Non-Resident Indian - The High Court held that Section 144C is a procedural provision introduced for the benefit of assesses, including NRIs, effective from April 1, 2020. The petitioner's objection to being assessed under Section 144C was deemed meritless as the provision is beneficial and procedural, not substantive. The Court emphasized that the petitioner failed to raise this objection before the assessing authority, rendering it invalid. - Further on the issue of limitation: The High Court noted the provided timeline demonstrated compliance with statutory procedures and extensions granted under TOLA. It concluded that the assessment order was passed within the prescribed time limit, as per the provisions of Section 144C, rendering the petitioner's objection baseless.

View Source

← Previous Next →

Assessment completed u/s 144C against a petitioner/Non-Resident ...

Income Tax

May 10, 2024

You may also like:

Demand of additional tax on simple processing of income - Applicability of provision of Section 143(1A) where assessment may have been completed u/s 143(3) - The High...

Assessment u/s 153A - unabated assessments - the assessments of the assessment years falling within the period of above said six years which are not pending, i.e., which...

The assessee is a Non-Resident Indian and merely because there is a wrong description in the returns that he is a Resident, it would not alter the status of the assessee...

The assessment completed cannot be held as bad in law on the issue that there was no material found during the course of search as the assessment has been completed u/s...

Validity of assessment u/s. 144C(13) - Going by the mandate of sub-section (3) of section 144C(3)/144C(4), the AO was supposed to complete the assessment on the basis of...

Levy of penalty u/s 271(1)(c) - wrong deduction of TDS @1% instead of 20.6% - purchase of immoveable property - seller is a Non Resident Indian - Assessee(s) are duly...

TDS liability u/s 195 - payments made to the non-residents / father of the non-resident - The entire payment was made to the resident Indian who is also the father of...

Validity of assessment passed u/s 153A pursuant to search and seizure - The High Court has observed and held that, the assessee’s assessment for the relevant year stood...

The Foreign Exchange Management (Deposit) (Fourth Amendment) Regulations, 2024, issued by the RBI, introduces a new provision to Regulation 7 - This new provision allows...

Validity of assessment order u/s. 147 r.w.s 144 - Assessee being Non-Resident Indian - The AO assessed the property below its market value, leading to an addition of...

Eligible assessee u/s 144C - Since the assessee is a non-resident partnership firm, it cannot be characterized as an Indian company - As the assessee is not an ‘eligible...

Sikim Income Tax Rules, 1948 versus Indian Income Tax Act, 1961 - Since the assessee was not resident within the territories comprised in the of State of Sikkim, the...

Reopening of assessment u/s 147 - Bypassing the option to initiate scrutiny assessment u/s 143(3) - The assessment proceedings would cease to be pending either by...

Assessment of dividend income - hostile discrimination between a resident assessee and a non-resident assessee - Non-residents can be treated differently for the reason...

Nature of income offered u/s 44BB - PE in India or not - Receipts from leasing/hiring of RIGs - sections 9(1)(vi), 44BB and 44DA apply in different situations. - The...

Quick Updates: