Home Highlights May 2014 Year 2014 This

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1. Reassessment u/s 147 r.w.s 143(3) - period of limitation - issuing another notice after issuing notice u/s 143(2) within prescribed period of limitation - exclusion of...

2. Refund of Tax paid - Block assessment - as per Section 153(3) of the Act the time limit for completion of such assessment proceedings viz. nine months had elapsed -...

3. Reopening of assessment u/s 147 - reason to believe - there was tangible material before the AO to reopen the concluded assessment as the assessee is claiming huge...

4. Revision u/s 263 - period of limitation - the case was re-assessed u/s. 143(3) r.w.s. 147 - the case of the assessee was again reopened and the assessment u/s. 143(3)...

5. 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...

6. Reopening the Assessment u/s 147 - period of limitation - Limitation under sub-Section 2 to Section 150 will apply only when the limitation had already expired by the...

7. Validity of reopening of assessment u/s 147 - by the time, assessment order for the assessment year 2004-05 was passed on 31.12.2010, six year period for reopening of...

8. Revision u/s 263 - Period of limitation - To be commenced from original assessment order or re-assessment order u/s 147 - In the case on hand, the jurisdiction under...

9. Reopening of assessment u/s 147 - Period of limitation - The audit party is entitled to point out a factual error or omission in the assessment. reopening of the...

10. The Appellate Tribunal held that the issuance of a valid notice u/s 143(2) is a prerequisite for framing a valid assessment, in line with the Supreme Court's judgments...

11. 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...

12. Validity of order u/s 92CA - time limit for passing of the TPO order - period of limitation - despite the fact that the reference made to the Ld. TPO is valid, in...

13. Validity of assessment order passed u/s 153(1) - Period of limitation - In this case, since, the Assessing Officer cannot invoke jurisdiction u/s.144C(1) and pass draft...

14. Assessment u/s 153A r.w.s. 254 - period of limitation u/s 153(2A) - period of limitation prescribed for completion of remand (nine months) constituted a special...

15. The nonobstante provisions in both Sections 153A and 153C are identical; they override Sections 136, 147, 148, 149, 151 and 153. However, they do not override the...