ITAT quashed assessment orders under Black Money (Undisclosed ...

Black Money Act Assessment Orders Invalid As Notice Year Mismatched With Assessment Year Under Section 10(1)

February 19, 2025

Case Laws Income Tax AT

ITAT quashed assessment orders under Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 due to jurisdictional defects in notice issuance. The AO issued multiple notices under Section 10(1) for AY 2018-19, but per Section 72(c)'s deeming provisions, undisclosed foreign assets are deemed acquired in the year of notice issuance. Since notices were issued in 2018, assessments should have been for AY 2019-20, not AY 2018-19. The Tribunal held that without proper jurisdiction through valid notice, the AO couldn't pass assessment orders. The protective assessments of 50% amounts were invalidated due to this fundamental jurisdictional error.

View Source

← Previous Next →

ITAT quashed assessment orders under Black Money (Undisclosed ...

Black Money Act Assessment Orders Invalid As Notice Year Mismatched With Assessment Year Under Section 10(1)

February 19, 2025

Case Laws Income Tax AT

You may also like:

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...

Penalty u/s.271(1)(b) - no compliance to notice u/s 142(1) - The AO levied the penalty for non-compliance of notice dated 13.06.2016, however, there is no reference of...

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...

Notice issued for reopening assessment u/s 147 was beyond the limitation period stipulated in Section 149(1). The High Court, following Ojjus Medicare Pvt. Limited,...

The ITAT held that the assessment years 2009-10, 2010-11 and 2011-12 were beyond the 10-year limitation period u/s 153C read with Explanation-1 to section 153A. Hence,...

The Appellate Tribunal held that the assessment orders issued u/s 153C for the assessment years 2011-12 and 2012-13 were beyond the jurisdiction of the Assessing Officer...

Revision u/s 263 - Assessment u/s 153C - revision of invalid assessment - the present proceedings being collateral proceedings and if the assessment order is inherently...

Validity of reopening of assessment u/s 147 - The tribunal sided with the assessee on the key issue of the legality of the re-assessment notice under section 148. It was...

Notices issued u/ss 84 and 27(1)(a) of the Tamil Nadu Value Added Tax Act, 2006 were valid. The time limitation for revising assessment orders is not an issue if a...

The Appellate Tribunal examined the reopening of assessment u/s 147 beyond the limitation period, involving the addition of cash deposits in the assessee's savings bank...

Validity of assessment order - Assessing Officer himself has not considered the assessment year 2008-09 as covered u/s 153C of the Act. The assessing Officer has issued...

Amendment of section 44AD. - computing profits and gains of business on presumptive basis - where an assessee declares profit for any previous year in accordance with...

The High Court held that the faceless assessment order was invalid as it violated the principles of natural justice and the provisions of Section 144B of the Income Tax...

The assessee's claim for deduction u/s 80IC for the finished products manufactured at Unit No. III at Paonta Sahib, Himachal Pradesh, was initially allowed but later...

Validity of assessment order - Discrepancy Nos. 1, 2, 10, and 11: The discrepancies include issues such as non-GST supplies, alleged mismatch between GSTR-3B and GSTR-1...

Quick Updates: