A Judicial Perspective on Section 148A of the Income Tax Act: Amended Reassessment Provisions

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..... ertaining to income tax proceedings, focusing on the procedural aspects and legal principles involved. The case revolves around a petitioner engaged in the business of trading Arecanut and other related products, who has been subject to an income tax audit and subsequent proceedings under various sections of the Income Tax Act, 1961 . Background and Procedural History Business Operat .....

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..... ction 148(d) and Subsequent Appeal : The assessing authority passed an order under Section 148(d) , treating certain purchases as fictitious and thus, income as having escaped assessment. The petitioner challenged this order and the consequent notice under Section 148 . Legal Analysis Statutory Framework and Amendments : The case highlights the changes brought about by the Fi .....

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..... hout delving into the merits of the information at this stage. Judicial Precedents and Principles : The analysis draws on precedents like Larsen Turbo Ltd. vs. State of Jharkhand and other relevant cases to elucidate the interpretation of 'information' under the Act and its implications in reassessment proceedings. Rights and Remedies of the Assessee : The case also h .....

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