{"id":24318,"date":"2022-01-25T19:52:51","date_gmt":"2022-01-25T14:22:51","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=24318"},"modified":"2022-02-19T08:42:51","modified_gmt":"2022-02-19T03:12:51","slug":"reassessment-proceedings-u-sec-148-on-the-basis-of-invalid-ids-declaration","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/reassessment-proceedings-u-sec-148-on-the-basis-of-invalid-ids-declaration\/","title":{"rendered":"Reassessment proceedings U\/SEc.148 on the basis of  invalid IDS declaration"},"content":{"rendered":"<p>Assessee is partnership firm engaged in the business of construction.\u00a0 assessee firm has filed the declaration under IDS for A.Y. 2015-16 and 2016-17 in respect of Income earned during the relevant A.Y. .In the said declaration assessee firm has claimed the credit for payment of advance tax paid prior , however the PCIT has not allowed the credit and considered the IDS declaration as invalid . The assessee firm has filed the WP against denial of credit of advance tax in IDS declaration and the\u00a0 same is pending before the HC.<\/p>\n<p>AO has issued the Notice U\/SEc. 148 on 30.06.2021 on the ground assessee firm has not paid the taxes under the IDS declaration and therefore the income disclosed in the IDS for A.Y. 2015-16 and 2016-17, there is under assessment of income of both the years in A.Y. 2017-18.<\/p>\n<p>whether the action of AO for reopening the\u00a0 the assessment for A.Y 2017-18 and considering the income disclosed in IDS for A.Y 2015-16 and A.Y 2016-17 , for which the PCIT has considered as invalid due to denial of credit for payment of advance tax is justified ? Please Guide<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[502,139,503],"qa_category":[23],"qa_tag":[428,136],"class_list":["post-24318","qa","type-qa","status-publish","hentry","qa_expert-dr-k-shivaram","qa_expert-research-team","qa_expert-senior-advocate","qa_category-income-tax","qa_tag-ids-declaration","qa_tag-reassessment"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/24318","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=24318"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=24318"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=24318"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=24318"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=24318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}