Assessment of the assessee for A.Y.2017-18 was re-opened u/s 147 of the Act. Notice u/s 148 of the Act was issued on 31.03.2021 for the said A.Y, no compliance were made to the said notice. AO completed to assessment u/sec 147 r.w.s.144 r.w.s 144B by making an addition of the entire cash payment for purchase of immovable property and treating the same as unexplained investments u/s 69 of the Act . The assessee preferred an appeal before CIT(A) against the order passed u/sec 147 r.w.s.144 r.w.s 144B. The assessee again received notice u/sec 148 for A.Y.2017-18 and order u/s 148A…
► Read Answer
Dear Team, My building went in re-development in 2013 and the flat was given back to us in 2016 within 3 years. I received a letter from income tax under sec 148 that i need to pay tax on the construction cost which is around 35 lacs as per the stamp duty document. How would this be taxed as there is no real transaction ,it is just that i got my redeveloped flat back from the builder. Please guide on what should i reply to the department. Regards.
► Read Answer
In the present case for AY 2016-17, notice u/s 148 dt. 31/3/21 received through email on 1/4/21. Reassessment order dt. 31/3/22 passed appeal filed before CIT (A) on 9/4/22. Again notice u/s 148A(b) issued on 2/6/22 (stated as issued, as per the direction of SC decision in the case of Ashish Agarwal) along with the information and material (12 pages missing/3 pages not legible) relied upon for such reopening. The above information is received by the AO from the INSIGHT PORTAL, as flagged by the system as HIGH RISK CRIU/VRU. Now the AO has issued order u/s 148A(d) & notice…
► Read Answer
I got Summon notice From income tax department under section 131(1A) by india post but i search income tax website but notice not showing Genuine
► Read Answer
I received 148 notice for AY2014-15 on 30/06/21 which I challenged in high court. After SC verdict I received reasons to believe, 151 approval and other documents. I found out that both 148 & 151 were digitally signed and time stamped. The time on 151 was later than 148. So practically AO Didn’t have approval from PCIT when he issued 148. I challenged this aspect in my reply to AO. The orders from AO are yet awaited. The last date mentioned on AO Letter for me to submit reply was 9th June. Till date AO hasn’t issued orders or 148.…
► Read Answer
a) Notice u/s 148A(b) is issued giving only four days time to respond. Can this notice be challenged directly in Writ before High Court? b) Assuming that assessee has filed response within 4 days without raising an objection about getting less than 7 days to respond, whether this notice still can be challenged before High Court by filing Writ Petition ? c) An order u/s 148A(d) of the Act is passed after one month from the end of the month in which time allowed to furnish reply as per clause (b) expired. Is this order is legal and valid? d)…
► Read Answer
Notice under the above referred section was issued on 11/03/2022 for reply on or before 17/03/2022 Whether the aforesaid notice which allows less that 7 days time is valid? Whether the plea of invalid notice can be taken after issue of notice u/s 148 ? Whether the plea of invalid notice can be taken in appeal ? Whether on this plea the proceedings of re- assessment can be held invalid ? Thanks & Regards
► Read Answer
Is any notice or assessment order digitally signed using an expired digital signature of assessing officer valid in law ? Is there any specific provision under the Information Technology Act, 2000 or any other law with respect to use of digital signature on any document / notice / order? Whether the provisions of section 282A of the Income Tax Act, 1961 would come to rescue of the assessing officer who has signed the notice / order with expired digital signature ? Kindly guide.
► Read Answer
Whether show cause notice issued u/s 148A(b) on or after 28.04.2022 is valid or not.. is a question to ponder over, of late, as IT department is issuing the said notices rampantly. For this purpose let us first examine the third proviso to sec 149 which reads as under…. [i]Provided also that for the purposes of computing the period of limitation as per this section, the time or extended time allowed to the assessee, as per show-cause notice issued under clause (b) of section 148A or the period during which the proceeding under section 148A is stayed by an order or…
► Read Answer
i made computation of income in a simple paper in response to notice u/s 148. ROI was not filed u/s 148. Whether computation of income is sufficient in place of return of income and valid. The AO has treated as income of the assessee as per computation of income. it is valid or invalid, please intimate
► Read Answer
Notice issued u/sec 148 of the Act for A.Y.2017-18 twice