Validity of the assessment framed u/s 147 - As the mandatory ...

Income Tax Assessment u/s 147 Invalid Due to Missing Section 143(2) Notice; Section 292BB Offers No Relief.

October 20, 2021

Case Laws Income Tax AT

Validity of the assessment framed u/s 147 - As the mandatory notice was not available in the records of the Revenue. Thus it can be inferred that the notice under section 143(2) of the Act was not issued by the Revenue. Thus in the absence of such mandatory notice, the proceedings initiated under section 147 of the Act are not maintainable and liable to be quashed. Provisions of section 292BB cannot extend any benefit to the revenue. - AT

View Source

← Previous Next →

Validity of the assessment framed u/s 147 - As the mandatory ...

Income Tax Assessment u/s 147 Invalid Due to Missing Section 143(2) Notice; Section 292BB Offers No Relief.

October 20, 2021

Case Laws Income Tax AT

You may also like:

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...

Reopening of assessment u/s 147 - addition of bogus expenditure - non-issuance of valid notice u/s 143(2) - Issuance of notice under section 143(2) of the Act prior to...

Notice u/s 143(2) issued by a non-jurisdictional Assessing Officer/Deputy Commissioner is invalid and cannot be cured. The assessment order framed u/s 143(3) based on...

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...

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...

Reopening of assessment u/s 147 and 148 – Non-issuance of notice u/s 143(2) - here is always a requirement of issuing of a notice u/s 143(2) of the Act in a case of an...

The High Court examined the jurisdiction of the Assessing Officer (AO) and the prescribed income-tax authority to issue notices u/s 143(2) of the Income Tax Act. It held...

Reopening of assessment u/s 147 - as per Explanation 2 of section 147, the Assessing Officer is free to reexamine correctness of a regular assessment and decide whether...

The ITAT held that the limitation period for issuing a notice u/s 143(2) is relevant to the financial year and assessment year. When the Assessing Officer considered the...

The summary highlights the key difference between the scope of total income under the Income Tax Act and the Black Money (Undisclosed Foreign Income and Assets) and...

Validity of Re-assessment under 147 where notice u/s 143(2) has been issued - if the Assessing Officer is of the view that materials available with him or discovered by...

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...

Validity of reopening of assessment u/s 147 - CIRP proceedings - The proceedings under the Insolvency and Bankruptcy Code, 2016 (IBC) cannot be pressed into service to...

The appellant trust claimed to be formed for public charitable activities and registered under the Rajasthan Public Trust Act 1959, regularly filing its income tax...

The assessee company is eligible to claim Foreign Tax Credit (FTC) against its Minimum Alternate Tax (MAT) liability u/s 115JB of the Income Tax Act for taxes paid in...

Quick Updates: