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Supreme Court Dismisses Assessee's Appeal in Income Tax Reassessment Validity Dispute. Notice Under Section 34/148 Not Invalidated by Preamble Error or Pending Return.

The appellant was assessed to income tax for assessment years 1945-46 and 1946-47 under Section 23(3) of the Income-tax Act, 1922. On June 24, 1959, t...

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Bombay High Court Dismisses Revenue's Appeal in Income Tax Reassessment Case — Reopening Based on Change of Opinion Invalid. ITAT Correctly Held That Reassessment Under Section 147 Was Not Justified as There Was No Failure to Disclose Material Facts.

The case involves a tax appeal by the Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal (ITAT) which upheld the cancel...

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Bombay High Court Quashes Reopening Notice Under Section 148 of Income Tax Act, 1961 for Lack of Fresh Material. Reassessment Based on Change of Opinion on Deduction Under Section 10AA of Income Tax Act, 1961 is Invalid.

The petitioner, Oracle Financial Services Software Limited, is a company engaged in providing information technology solutions to banks and financial ...

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Supreme Court Interprets 'Filed' in ITO Order as Termination of Proceedings Under Section 34 of Income-tax Act, 1922. The Order That a Case is 'Filed' Disposes of the Proceeding, Rendering Fresh Notice for Reassessment Valid.

The case arose from reassessment proceedings under the Income-tax Act, 1922. The Additional Income-tax Officer issued a notice under Section 34 and, a...

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High Court of Bombay Allows Writ Petition Seeking Reassessment of Customs Duty Due to Typographical Error in Customs Tariff Heading. Petitioner's Inadvertent Error in Declaring CTH 85176990 Instead of 85176930 for Routers Entitles Correction Under Customs Act, 1962.

The petitioner, Dimension Data India Private Ltd., an importer, filed five Bills of Entry between 15.03.2019 and 25.04.2019 for importing 48 units of ...