Income Tax Act, 1961 with Section 153A

Supreme Court clarifies assessment period for third parties in search cases under Section 153C of the Income Tax Act: Commissioner of Income Tax vs. Jasjit Singh (26 September 2023)

/ Income Tax Act, 1961, Income Tax Act, 1961 with Section 153A, Income Tax Act, 1961 with Section 153C, Search and Seizure

Supreme Court Clarifies Assessment Period for Third Parties in Search Cases LEGAL ISSUE: Determination of the relevant date for calculating the assessment period for third parties whose documents are seized during a search of another entity, under Section 153C of the Income Tax Act, 1961. CASE TYPE: Income Tax Law Case Name: Commissioner of Income […]

Supreme Court clarifies assessment period for third parties in search cases under Section 153C of the Income Tax Act: Commissioner of Income Tax vs. Jasjit Singh (26 September 2023) Read Post »

Supreme Court Refuses Clarification on Income Tax Reassessment: Principal Commissioner of Income Tax vs. Abhisar Buildwell P. Ltd. (2023)

/ Income Tax Act, 1961, Income Tax Act, 1961 with Section 148, Income Tax Act, 1961 with Section 150(2), Income Tax Act, 1961 with Section 153A, Judges, M.R. Shah, Sudhanshu Dhulia

Supreme Court Refuses Clarification on Income Tax Reassessment: Principal Commissioner of Income Tax vs. Abhisar Buildwell P. Ltd. (2023) LEGAL ISSUE: Whether the Supreme Court should clarify the applicability of Section 150(2) of the Income Tax Act, 1961 regarding the waiver of limitation for reassessment notices under Section 148, especially in cases related to assessments

Supreme Court Refuses Clarification on Income Tax Reassessment: Principal Commissioner of Income Tax vs. Abhisar Buildwell P. Ltd. (2023) Read Post »

Supreme Court Refuses Clarification on Reassessment Notices: Principal Commissioner of Income Tax vs. Abhisar Buildwell P. Ltd. (12 May 2023)

/ Income Tax Act, 1961, Income Tax Act, 1961 with Section 148, Income Tax Act, 1961 with Section 150(2), Income Tax Act, 1961 with Section 153A, Judges, M.R. Shah, Sudhanshu Dhulia

Supreme Court Refuses Clarification on Reassessment Notices: Principal Commissioner of Income Tax vs. Abhisar Buildwell P. Ltd. (2023) Date of the Judgment: 12 May 2023 The Supreme Court of India, in this case, declined to entertain a miscellaneous application filed by the Revenue seeking clarification on the waiver of limitation for reassessment notices under Section

Supreme Court Refuses Clarification on Reassessment Notices: Principal Commissioner of Income Tax vs. Abhisar Buildwell P. Ltd. (12 May 2023) Read Post »

Supreme Court clarifies scope of assessment under Section 153A of the Income Tax Act in search cases (24 April 2023)

/ Income Tax Act, 1961, Income Tax Act, 1961 with Section 132, Income Tax Act, 1961 with Section 147, Income Tax Act, 1961 with Section 153A, Judges, M.R. Shah, Reassessment, Search and Seizure, Sudhanshu Dhulia, Tax Assessment

Supreme Court Clarifies Assessment Scope Under Section 153A of Income Tax Act Date of the Judgment: 24 April 2023 Citation: (2023) INSC 379 Judges: M.R. Shah, J. and Sudhanshu Dhulia, J. Can tax authorities reassess income for previous years based on materials found during a search, even if those years’ assessments were already completed? The

Supreme Court clarifies scope of assessment under Section 153A of the Income Tax Act in search cases (24 April 2023) Read Post »

Supreme Court Clarifies Assessment Scope Under Section 153A of Income Tax Act: Abhisar Buildwell P. Ltd. vs. PCIT (24 April 2023)

/ Income Tax Act, 1961, Income Tax Act, 1961 with Section 132, Income Tax Act, 1961 with Section 147, Income Tax Act, 1961 with Section 153A, Judges, M.R. Shah, Sudhanshu Dhulia

Supreme Court Clarifies Assessment Scope Under Section 153A of Income Tax Act: Abhisar Buildwell P. Ltd. vs. PCIT (2023) LEGAL ISSUE: Scope of assessment under Section 153A of the Income Tax Act, 1961, specifically whether the Assessing Officer’s (AO) jurisdiction is limited to incriminating material found during a search. CASE TYPE: Income Tax Law, Search

Supreme Court Clarifies Assessment Scope Under Section 153A of Income Tax Act: Abhisar Buildwell P. Ltd. vs. PCIT (24 April 2023) Read Post »

Section 153C of the Income Tax Act: Supreme Court clarifies applicability to searches before June 2015

/ B.V. Nagarathna, Income Tax Act, 1961, Income Tax Act, 1961 with Section 132, Income Tax Act, 1961 with Section 153A, Income Tax Act, 1961 with Section 153C, Judges, M.R. Shah

Supreme Court Clarifies Scope of Section 153C of Income Tax Act for Searches Before June 2015 LEGAL ISSUE: Applicability of amended Section 153C of the Income Tax Act, 1961 to searches conducted before the amendment date. CASE TYPE: Income Tax Law Case Name: Income Tax Officer vs. Vikram Sujitkumar Bhatia [Judgment Date]: April 6, 2023

Section 153C of the Income Tax Act: Supreme Court clarifies applicability to searches before June 2015 Read Post »

Supreme Court Clarifies Assessment of Amalgamated Companies: PCIT vs. Mahagun Realtors (2022)

/ Companies Act, 1956, Companies Act, 1956 with Section 394, Income Tax Act, 1961, Income Tax Act, 1961 with Section 143(2), Income Tax Act, 1961 with Section 153A, Income Tax Act, 1961 with Section 170, Judges, S. Ravindra Bhat, Uday Umesh Lalit

Supreme Court Clarifies Assessment of Amalgamated Companies: PCIT vs. Mahagun Realtors (2022) LEGAL ISSUE: Whether an assessment order in the name of an amalgamating company is valid after the company has ceased to exist due to amalgamation. CASE TYPE: Income Tax Law Case Name: Principal Commissioner of Income Tax (Central) – 2 vs. M/s. Mahagun

Supreme Court Clarifies Assessment of Amalgamated Companies: PCIT vs. Mahagun Realtors (2022) Read Post »

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