Web8 Sep 2024 · and an appropriate order under section 147 shall be passed after giving the taxpayer an opportunity of being heard. The time limit for issue of notice under section 148 is: If the income that escaped assessment doesn’t exceed INR 1 lac, four years from the end of the relevant AY. If the income that escaped assessment exceeds INR 1 lac, six ... Webissued under Section 148 of the Income Tax Act, 1961 [in short “Act”]. 4.1 In addition thereto, challenge has been laid to the order dated 30.07.2024 passed under Section 148A(d) and the notice dated 08.06.2024 issued under Section 148A(b) of the Act. 5. The impugned notices and order concern Assessment Year (AY) 2014-2015. 6.
Conducting Inquiry, Providing Opportunity before Issue of
Web20 Feb 2024 · Background: The Finance Act 2024 has substituted by introducing new provisions with respect to re-opening of assessment under the Income Tax Act, 1961 … Web7 rows · 29 Apr 2024 · Since Section 148A is effective from 1st April 2024, any notice issued to the taxpayer under ... health board nhs
Reassessment proceedings Not valid since it violates procedure ...
Web26 Apr 2024 · Time limit for issuance of notice under section 148 is contained in section 149 of income tax Act, 1961, which reads as under: “149(1) No notice under section 148 shall … Web1 Apr 2024 · Recently, we have discussed in detail section 148A (Conducting inquiry, providing opportunity before issue of notice under section 148) of IT Act 1961. Today, we learn the provisions of section 148B of Income-tax Act 1961-2024. The amended provision of section 148B is effective for financial year 2024-23 relevant to the assessment year … Webunder Section 148 of the Income Tax Act, 1961 [in short, “Act”] i.e., under ... W.P.(C) 1668/2024 1/3 . Section 148A(d), as also the consequent notice of even date i.e., 30.07.2024 issued under Section 148 of the Act. 4. The principal allegation against the petitioner is, that it has entered into a bogus sale amounting to Rs.1,96,74,999 ... health board lanarkshire