The High Court examined the validity of reassessment notices ...

Court Validates Reassessment Notices Under Income Tax Act, Highlights Role of JAC and NFAC in Faceless Assessment Scheme.

October 30, 2024

Case Laws Income Tax HC

The High Court examined the validity of reassessment notices issued u/s 148 of the Income Tax Act by the Joint Assistant Commissioner (JAC) in light of the Faceless Assessment Scheme formulated u/s 151A. The key points are: The Act allows reassessment based on information from Risk Management System (RMS), audit objections, information from other countries, information u/s 135A schemes, or orders of Tribunals/Courts. The JAC can form an opinion based on such information and initiate reassessment proceedings u/s 148A. Information gathered during searches/surveys is also deemed as "information" for reassessment purposes under Explanation 2 to Section 148. The Faceless Assessment Scheme segregates the initiation of reassessment proceedings by the JAC from the actual faceless assessment by the National Faceless Assessment Centre (NFAC). The JAC examines information from RMS/other sources and forms an opinion on reassessment, while the NFAC conducts the actual faceless assessment through automated allocation. Rendering the JAC's powers redundant under the faceless scheme would conflict with beneficial construction principles and undermine provisions for comprehensive data analysis and informed decision-making. The High Court upheld the validity of notices issued by the JAC, observing a harmonious distribution of functions between the JAC and NF.

View Source

← Previous Next →

The High Court examined the validity of reassessment notices ...

Court Validates Reassessment Notices Under Income Tax Act, Highlights Role of JAC and NFAC in Faceless Assessment Scheme.

October 30, 2024

Case Laws Income Tax HC

You may also like:

Reassessment action initiated based on Section 148 notice and subsequent Section 148A(b) notice violated the First Proviso to Section 149(1) and was barred by the...

The court held that the Joint Assessing Officer (JAO) lacked jurisdiction to issue notices u/s 148 of the Income Tax Act for reassessment, as per Section 151A read with...

The High Court held that for a valid reassessment notice u/s 148 of the Income Tax Act, the Revenue must comply with Section 151A, which mandates the issuance of such...

This judgment deals with the validity of reassessment notices issued u/s 148 of the Income Tax Act between July and September 2022, in light of the Tax Ordinance and the...

The High Court held that the reassessment order dated 12.05.2023 and subsequent proceedings were invalid as they were beyond the statutory limitation period prescribed...

Reopening of assessment u/s 147 against non-existing entity - scheme of the amalgamation and arrangement approved - The High Court acknowledges the petitioner's argument...

The High Court held that the notices issued u/s 148 for reassessment on or after April 1, 2021, are barred by limitation u/ss 148 and 149 of the Income Tax Act, 1961....

The High Court quashed the reassessment proceedings initiated by the Assessing Officer u/s 148 of the Income Tax Act, holding it to be a case of "change of opinion" and...

The case before the Allahabad High Court involved the validity of reassessment proceedings initiated by the assessing authority based on information that the purchaser...

Validity of reopening an assessment and the legality of issuing a new Show Cause Notice u/s 148-A(b) after the conclusion of initial reassessment proceedings. The key...

Reopening of assessment under old regime - scope of new regime - scope of TOLA - In this detailed judgement, the Court found that the notice issued under Section 148 was...

The Income Tax Appellate Tribunal (ITAT) held that the reassessment notices issued u/s 148 of the Income Tax Act for the assessment years 2013-14, 2014-15, and 2015-16...

The court held that the notices issued u/s 133(6) and the subsequent notice u/s 148 of the Income Tax Act were invalid. The petitioner had filed a reply to the notice...

Validity of Reassessment notices issued unsigned - maintainability of writ petition against this issue in HC - The Court noted the petitioner's failure to file...

Validity of reopening of assessment - clandestine and unaccounted sales - The High Court reviewed a petition challenging the rejection of objections to a notice for...

Quick Updates: