Amendment of 149 in finance act 2022 As per finance act 2022, the income escaping assessment should be represented in the form of--- an asset, an entry or entries or expenditure in a single transaction or transactions and expenditure.... For AY-2018-2019, the limit of 3 year get expired on 31 march 2022....now the amendment of finance bill 2022 be effective from april 1, 2022. so non asset based representation will also expire on 31 march 2022 for ay 2018-2019, if income escaping assessment is-more-than-50-lakh...is it right...............................................my questions is the following.... Questions : Can Income escaping assessment more than 50 lakh amended…
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Hi, can you please let us know the timelinmit by which assessee can file a MA before the ITAT?
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CBDT notified the e-Assessment of Income Escaping Assessment Scheme, 2022 vide Notification No. 18 on 29.03.2022 and accordingly notice u/s 148 to be issued through automated allocation, in accordance with risk management strategy formulated by the Board as referred to in section 148 of the Act. My query is about validity of proceedings where Jurisdictional Assessing Officer issued notice u/s 148. Kindly guide. Thanks
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The notice us 148 of I.T, Act has been issued on 08.04.22 for the first time for the assessment year 2015-16, as the assessee has deposited more than 50 lakhs during the financial year 2014-15 without issuing notice u/s 148A (b) of the Act. Whether the notice issued is barred by limitation? Is it legal?
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Hi, We have claimed GST Refund for FY 2017-18 in January 2020. Refund got processed. However during the GST Audit, officer is claiming to reject the refund and claim back amount. Is there any case laws to support the refund claim, providing mere delay in claim subject to meeting other refund claims should not be reason for rejecting refund. Thank you in advance. Look forward to hear from you at the earliest.
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The notice us 148 of I.T Act , aswellas , notice u/s 148A(b) of Income tax Act has been issued on 08.04.22 for the first time as the assessee has deposited more than 50 Lakhs in financial year 2014-15 .My Querry is that whether the notice issued is barred by limitation or well with in the time?
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Notice under section 148 was issued on 22 March 2017 which mentioned that return of income needs to filed within 30 days. However ROI pursuant to notice under section 148 was filed on 15 December 2017 i.e., after the due date mentioned in 148 notice. Order was passed under section 143(3) read with section 147 of the Act. Is it still mandatory to issue notice under section 143(2) even if the ROI was filed beyond the time limit provided in notice under section 148?
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Dear Sir, Please give your opinion on the following: By virtue of decision of SC dated 04.05.2022 in the case of Union of India vs. Ashish Aggarwal. Assessee received notice u/s 148A(b) dated 24.05.2022 relating to A.Y. 2013-14. The assessee reply in July 2022 mentioning that assessee did not do any transaction in the shares mentioned in the notice. The name of broker in the notice is also wrong. Assessee submitted affidavit also and asks to give details of payment made by the broker and to prove that particular shares were sold by the assessee. Assessing Officer did…
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Whether extension of time granted by Supreme court is also applicable on Revision petition u/s 264 of Income Tax Act.
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Assessee received order u/s 148A(d) for A. Y. 2013-14 and 2014-15 of the Act within the time limit of 30 days from the date of reply given. However, in the said reply, the AO has not considered the detailed objections raised by the the assessee and also not provided all the information and documents relied upon as required by the decision of Hon’ble Court in the case of Ashish Agarwal, tough it is mentioned that same has been provided to the assessee. In the order u/s 148A(d) of the Act, the AO has stated that assessee’s request for copies of…
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income tax 149 time limit reassesment