Dear Sir, Assessee received notice dated 20.05.2022 u/s 148A(b) in consequence to Hon'ble SC Order dated 04.05.2022. Assessee's case relates to LTCG. The information mentioned in the notice addressed to the assessee is totally wrong 1. name of the company in which assessee did purchase and sell of shares as per AO is wrong. 2. Amount of shares purchased and sold is wrong. 3. Name of broker to whom assessee purchase and sale of shares is wrong. Assessee filed reply in response to notice u/s 148A(b) mentioning that information given by you is wrong. Now, the assessee approached the concerned…
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Assessee received order u/s 148A(d) 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 documents, statements and opportunity of cross…
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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.…
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ASSESSMENT FOR A.Y.2014-15 WAS REOPENDED U/S 148 DUE TO AUDIT OBJECTION. FALLOWED BY REOPENING AO ON VERIFICATION OF ASSESSEE COMPANIES RECORDS SATIFYED REVENUE AUDIT WITH NECESSARY DETAILS, FALLOWED BY THIS REVENUE AUDIT DROPPED REOPENING OF ASSESSMENT. AO UPLOADED DROPPING OF REOPENING ORDER ON NFAC PORTAL IN THE MEAN TINE NFAC ISSUED 142(1) NOTICE AND ULTIMATELY COMPLETED ASSESSMENT BY RAISING HUGE DEMAND WITHOUT TAKING COGNIZENCE AO'S ORDER OF AUDIT OBJECTION
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The Assessee had not filed Return of Income for AY 2015-16 and missed out show cause notice u/s.148A(b) which gave time limit 22/04/2022. Notice u/s.148 is also received requiring the assessee to file return of income within 30 days.
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Assessee is proprietor engaged in the business as Gas Agency under Bharat Gas. He has received notice U/sec. 148 for AY. 2013-14 and 2014-15 after 31.03.2021. Assessee filed the Return of Income for both the years and asked for reasons for reopening and copy of proposal sent for approval before higher authorities and approval granted and also.documents as well as information in possession of AO. AO has provided the issues in reason that assessee has deposited huge cash in Bank account . Assessee has once again asked for verbatim copy of reasons , copy of proposal sent for approval before…
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In case of search conducted after 01.04.2021, whether procedure prescribed u/s 148A is to be followed for the preceding 10 A.Y from the end of the previous year in which search took place. Whether assessee can ask for the reasons for re-opening and copy of approval of the prescribed authority? Whether assessee can the notice on the ground that before issuing notices u/s 148A, AO must fulfil the condition as prescribed in section 149(1)(b) of the Act?
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Survey u/s 133A took place at the premises of builder on 19.03.2019, wherein a diary containing details of on-money received by the said builder was found. On the basis of noting on the said diary, the assessments were completed in the hands of the builder for A.Y 2013-14 to A.Y 2017-18, wherein the additions about the on-money were made. The additions made by the AO were confirmed by the CIT(A) as well as the Tribunal. AO relying upon an explanation 1(v) to section 148, has issued notice u/s 148A to the purchasers of the flats/shops from the builder on the…
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Assessee is a developer and builder. Search took place on 10.08.2021 and noting about receipt of unrecorded sale consideration of Rs. 25,00,000/- for A.Y 2018-19, Rs.15,00,000/- for A.Y 2017-18 and Rs.75,00,000/- for A.Y 2016-17 was found on the loose paper. AO issued notice u/s 148A on 19.03.2022 for all these three years giving time to respond within 7 days. The assessee requested for extension of time and the AO has given time upto 31.03.2022. The assessee has submitted a detailed reply and after considering the said reply AO passed order u/s 148A(d) on 07.04.2022 and the notice u/s 148 was…
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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)…
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About Notice u/s 148A(b) on LTCG