Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Page of 4786
Press 'Enter' after typing page number.
121 to 140 of 95715 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Reassessment proceedings were held invalid due to lack of proper jurisdiction by the Assistant Commissioner of Income Tax while issuing the notice u/s 148. The assessment order was not passed by the person issuing the notice, rendering it a curable defect u/s 292BB. The ACIT lacked pecuniary jurisdiction as the assessee's total income for the relevant assessment year fell within the Income Tax Officer's jurisdiction. The subsequent transfer of assessment records by the ACIT to the ITO was deemed illegal, as transfers can only be done u/s 127 of the Income Tax Act, 1961. The defect was deemed incurable and not amenable to correction u/s 292BB. Consequently, the notice issued u/s 148 was without jurisdiction, and the consequent assessment order was held invalid. The Appellate Tribunal ruled in favor of the assessee, aligning with the Bombay High Court's judgment in Ashok Devichand Jain v. Union of India & Ors.
Reassessment proceedings were held invalid due to lack of proper jurisdiction by the Assistant Commissioner of Income Tax while issuing the notice u/s 148. The assessment order was not passed by the person issuing the notice, rendering it a curable defect u/s 292BB. The ACIT lacked pecuniary jurisdiction as the assessee's total income for the relevant assessment year fell within the Income Tax Officer's jurisdiction. The subsequent transfer of assessment records by the ACIT to the ITO was deemed illegal, as transfers can only be done u/s 127 of the Income Tax Act, 1961. The defect was deemed incurable and not amenable to correction u/s 292BB. Consequently, the notice issued u/s 148 was without jurisdiction, and the consequent assessment order was held invalid. The Appellate Tribunal ruled in favor of the assessee, aligning with the Bombay High Court's judgment in Ashok Devichand Jain v. Union of India & Ors.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4786
Join Channel
TaxTMI 
