Home Highlights January 2015 Year 2015 This

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1. 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...

2. Reopening of assessment u/s 147- non-issue of notice u/s. 143(2) - Non filing of ITR within thirty days after issue of notice u/s. 148 - though the assessee did not file...

3. Penalty u/s.271AAB - Belated filing of regular return after search - Penalty cannot be levied u/s.271AAB of the Act, in respect of income disclosed in regular return of...

4. Reopening of assessment u/s 147 - When the A.O. admits in the notice under section 142(1) Dated 20.10.2014 that assessee filed return of income under section 148 of the...

5. Reopening of assessment - Though the return was filed by the assessee beyond the period of time frame as specified u/s. 139(5) of the Act, however, the same was filed...

6. Reopening of assessment u/s 147 - Return filed was non-est return and not a valid return in the eyes of law as per Section 139(4)- Clause (a) of Explanation 2 would...

7. Disallowance of exemption u/s 54F - assessee failed to deposit unutilized funds in a capital gains account scheme before filing the return of income u/s 139(1) -...

8. Processing of invalid return u/s 143(1) - Denial of exemption u/s 10(23C)(iiiad) - non-filing of ITR-V within 120 days made the assessee’s return as ‘invalid’ being...

9. Reopening of assessment u/s 147 - Time limit for notice - there is no document made available to prove that the notice under section 148 dated 31.03.2018 was sent for...

10. Validity of reassessment proceedings - As the return filed by the assessee on 06.10.2015 is a return filed belatedly u/s 139(4) of the Act. Nothing prevented the learned...

11. Reopening of assessment u/s 147 where assessment proceedings already pending - Unless the return of income already filed is disposed of, the notice for reassessment u/s...

12. Capital gain - period of limitation for deposit the amount in Capital Gain Account Scheme - Sub-Section (4) of Section 139 provides extended period of limitation as an...

13. Refund claim - petitioner had not filed returns either u/s 139(1) or within the extended period u/s 139 (4) - Since the law mandates a particular thing to be done in a...

14. Denial of deduction u/s 80P by invoking section 80A(5) – the belated return filed beyond the time limit provided u/s 139(1) or 139(4) or time specified in notice u/s...

15. Reopening of assessment u/s 147 - eligibility of reasons to believe - the sole basis for the AO to form reasonable belief of escapement of income is, Tax Audit Report...