Supreme Court: Issues of Party Capacity and Maintainability Must Be Decided by Arbitral Tribunal  ||  Supreme Court: Omissions in Chief Examination Can Be Rectified During Cross-Examination  ||  Supreme Court: Items Given by Accused to Police Are Not Section 27 Recoveries under Evidence Act  ||  Gujarat High Court: Waqf Institutions Must Pay Court Fees When Filing Disputes in State Tribunal  ||  Allahabad High Court: Law Treats All Equally, State Cannot Gain Undue Benefit from Delay Condonation  ||  SC: SARFAESI Act Was Not Applicable in Nagaland Before its 2021 Adoption, Dismisses Creditor’s Plea  ||  SC: Lis Pendens Applies To Money Suits on Mortgaged Property, Including Ex Parte Proceedings  ||  Kerala HC: Civil Courts Cannot Grant Injunctions in NCLT Matters and Such Orders Can Be Set Aside  ||  Bombay High Court: Technical Breaks to Temporary Employees Cannot Deny Maternity Leave Benefits  ||  NCLAT: Appellate Jurisdiction Limited to Orders Deciding Parties’ Rights, Not Procedural Directions    

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