Home Highlights October 2013 Year 2013 This

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1. Validity of block assessment u/s 158BC – Order beyond period of limitation or not –issuance of notice u/s.143(2) is a mandatory requirement - AT

2. Block assessment - Penalty u/s 158BFA - whether mandatory or discretionary - HC

3. Block assessment - Participation in assessment proceedings - Notice u/s 143(2) was not serviced - assessment not valid even under section 292BB.

4. Introduction of block assessment provisions in cases of search u/s 132 and requisition u/s 132A for early finalization of search assessments, coordinated investigation,...

5. Undisclosed Capital gain - Scope of block assessment proceedings - AO is concerned only with undisclosed income and he has no power to consider material and evidence not...

6. Reopening of assessment u/s 147/148 - failure to issue notice u/s 143(2) - reopening of assessment is not valid as the Income Tax Department has power to conduct the...

7. Validity of assessment - no notice u/s 143(2) - the assessment order passed by the Assessing Officer (DCIT) was bad in law for want of issuance of notice u/s 143(2) of...

8. The jurisdictional Assessing Officer (AO) had suo moto transferred the assessment to Income Tax Officer (ITO), Ward 2(2) Noida. The appellant contended that the...

9. Section 143(2) is a mandatory requirement, and failure to comply with it renders the reassessment proceedings invalid. The High Court has consistently held that Section...

10. Period of limitation for carrying forward of Unabsorbed depreciation loss prior to assessment year - once the Circular No.14 of 2001 clarified that the restriction of 8...

11. Validity of assessment order - Transfer of case from jurisdiction - Notice u/s 143(2) was issued by the ITO Ward-2, Malegaon, Nasik, Maharashtra whereas Assessment order...

12. Block Assessment - Requirement to record the satisfaction – Proceeding u/s 153A & 153C versus 158BC, 158BD - The provisions of Section 158BD are pari materia with the...

13. Blocking the Input Tax Credit (ITC) - Scope of Section 16(2) read with Rule 37 - Non payment of consideration within 180 days u/s 16(2)(d) of CGST Act - The respondents...

14. Validity of reopening of assessment u/s 147 - AO did not issue the notice under section 143(2) - It is the discretion of the Assessing Officer to accept the return of...

15. Reopening of assessment u/s 147 - no notice u/s 143(2) issued - It is not a mere formality but it given the jurisdiction to the A.O. to complete the assessment U/s...