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The Telangana High Court declared that income tax garnishee notices against the taxpayer’s bank accounts were invalid, pointing out that the notices were sent despite pending appeals and a stay request. The applicant/taxpayer, Unique Engineering Enterprises Pvt.Ltd, contested the garnishee notices issued dated 08.01.2025 by respondent No. 1, attaching its bank accounts held with respondents […]
The recent ruling by the Gujarat High Court emphasized the necessity of concrete evidence and a legitimate rationale to support the notion that income has been overlooked in assessments. This decision holds considerable weight in evaluating the validity of reopening assessments when the reasons provided lack a direct link between the taxpayer and the contentious […]
Tax regulations often prove intricate, occasionally necessitating court involvement to align Assessing Officers’ conduct. Recently, the Delhi High Court clarified that the extended 10-year review period for Income Tax assessments is applicable only when the estimated undisclosed income surpasses Rs 50 lakh. Justices Rajiv Shakdher and Girish Kathpalia stressed that, in “ordinary cases,” no notice […]
Finance Minister Nirmala Sitharaman, on Monday, said that around one lakh notices have been sent by the Income Tax Department in relation to the cases of not declaring or underreporting income. Without providing further details about the department’s move, she added that all these cases are of old returns filed 4-6 years earlier and the […]
As technology has come around most of the income tax (IT) departments’ communication addressed to the taxpayer is provided to his or her enrolled email. The Delhi High Court in Venad Properties Pvt ltd. vs. Commissioner of Income Tax (2013) 212 Taxman 20, ruled that the object and the intention of the service of the […]
This time, due to the lower tax deducted at source (TDS) of many individuals for FY20, Income Tax authorities have sent notices to several taxpayers. The reasons cited in notices is that while some taxpayers have not paid the apt tax on interest that is earned by them others have paid lower tax on credit […]
Some Reports state that a notable decrease has been noticed in the number of Income Tax Returns (ITR) picked up for scrutiny. Besides the percentage, there is no exact number of such cases, but expert believes that better data collection and digging deep into details are the two key factors that play a huge role in […]
When a person reaches court seeking a legally required court order in a notice against another party or parties that may affect them and also deliver the same notice to other parties in a permitted way then the complete process is known as service of notice under GST (Goods and Services Tax) . A court […]
According to section 149 of the Income Tax Act, Certain terms and conditions may apply while issuing the notice of tax assessment above six years. Also, the income tax department is liable to reopen a case only when an assessee has failed to provide returns or has not given proper information and documents regarding the […]
