SC: Mere Mention of 'Arbitration' Does not Form Agreement Without Clear Intent  ||  SC: No Entitlement to Job as Compensation for Land Acquired under Land Acquisition Act  ||  SC: Court Cannot Probe Credibility of FIR Allegations While Entertaining Quashing Plea  ||  SC: Notice under Indian Forest Act Does not Transfer Private Forests to Maharashtra Law  ||  SC: Unilateral Termination of Sale Agreement Invalid if Contract Does Not Permit it  ||  NCLAT: Pre-COVID Defaults do not Exempt Debtors From Insolvency Proceedings  ||  NCLAT: Liquidator Must Obtain NCLT Approval Before Conducting Private Sale  ||  NCLAT: Contract Termination for Performance Default Not Barred by CIRP Moratorium  ||  Kerala HC: Partial Specific Performance Not Allowed if Defendant Holds Undisputed Property Title  ||  Kerala HC: Complainant Must be Informed if Probe Against FIR-Named Accused is Dropped    

ITAT: Prima Facie Belief That There is Escape of Income is Sufficient Proof to Re-Open Assessment - (23 Jun 2022)

DIRECT TAXATION

Income Tax Appellate Tribunal (ITAT), Pune Bench has held that prima facie belief that there is the escape of income is sufficient proof to initiate reassessment proceedings under Section 147/148 of the Income Tax Act, 1961.

Tags : ITAT   INCOME TAX ACT   1961   REASSESSMENT  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved