Assessee is a partnership firm, which filed its return of income for A.Y 2015-16 on due date. The said return was selected for scrutiny and assessment u/s 143(3) was completed accepting the returned income. On the basis of information available for the past years where 25% of vehicle expenses were disallowed on account of personal nature. In the assessment completed u/s 143(3) for A.Y 2015-16, no such disallowance was made. Based on this information, AO re-opened the concluded proceedings by issuing notice u/s 148 relying upon provisions of section 148 and 149(1)(b) of the Act. Assessee is of the view…
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Notice received on 6.4.2022 for the AY 2014-15. As per new law it is time barred. When we received the notice u/s 148A, What reply we should submit?. 1. Either we challenge before HC OR 2. Should submit reply or 3. We raise objection and submit reply under without prejudice. 4. Raise objection on validity of notice only. Please reply as per SC judgment and instructions issued by cbdt.
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SC holds reassessment notices issued under old regime deemed to be issued under S. 148A. Now what will be impact on : a. On going proceedings where reassessement are not completed? b. Where assessement are completed an assessee has filed an appeal before CIT A. c. Assessee who are party to Writ Petition? d. Whether review Petition can be filed before SC against this order which holds reassessment notices issued under old regime deemed to be issued under S. 148A. Pl guide .
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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
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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…
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assessee is partnership firm. has received the Notices U/Sec. 148 for A.Y. 2013-14 and 2014-15 after 31.03.2021. Therefore, wishes to challenged the validity of the same . whether assessee has to filed two separate WP or can file One WP mentioning facts for each year separately in the petition. pl guide
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I am in receipt of a notice u/s 148A of the Act relating to AY 2015-2016. I have not filed the return of income during that year inadvertently because the operations resulted in a huge loss and turn over was 95 lakhs only. Can i file a return of income in response to notice u/s 148A or shall wait for a notice u/s 148 to receive from the department
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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
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i have not filed ROI u/s 148 but in a simple paper income declared. whether it is sufficient or not. please suggest with latest judgments
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The assessee company recd 148A notice in March 2022.The assessee replied.Matter was of 25 lakhs. 148A order dated 6/4/22 came on 6/4/22.Notice u/s 148 also issued dated 6/4/22. Is it valid notice .148 notice is time barred on 31/3/22 for AY 18-19 of below 50 lakhs matter.Experts opinion awaited,What should be assessee next course of action.
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In the context of Section 148A and 148 of the Income Tax Act