The Tribunal ruled that treating a belated return as non est is legally unsustainable. Absence of a Section 143(2) notice invalidates the entire reassessment ...

ITR reassessment: Filing income tax returns, a crucial financial task, poses complexity and error potential, possibly leading to an unsettling tax notice issuance by ...

The issue was whether reassessment is valid when reasons for reopening are not placed on record. The Tribunal held that non-recording of reasons under Section 148(2) vitiates jurisdiction, rendering ...

For the assessment year 2018-19 or subsequent years, if your undisclosed income is more than Rs 50 lakh, you may receive a Section 148 notice from the Income Tax Department by August 31, 2024. If ...

Under Section 148 of the Income Tax Act, 1961, a notice can be issued by the Assessing officer to reassess a taxpayer's income tax return (ITR) if he has reason to believe that any income chargeable ...

Some income taxpayers have reportedly received notices under section 148, which is related to the reopening of assessments for the assessment years 2014-15, 2015-16, 2016-17 and 2017-18. A former ...

Union Budget: The Finance Bill 2024 introduces amendments to Section 148A of the Income-Tax (I-T) Act, which pertain to the time limits for issuing notices regarding the reopening of assessments.

In a decision that has far-reaching implications, the Supreme Court declared that notices served under Section 148 of the Income Tax Act, must be deemed to have been issued under 148A. The decision of ...

NRIs receive notice relating to past investments and issues concerning tax filing Add as a preferred source on Google NRI investments made in India over the past years, for which no income tax returns ...

To reduce litigation the government has proposed changes to the scheme of reassessment in the Income Tax Act, 1961 (“IT Act”). This is sought to be done by automating the tax administration process.