Supreme Court: Foreign Companies’ Head Office Expenses in India are Capped under Section 44C  ||  SC Directs Trial Courts to Systematically Catalogue Witnesses and Evidence in Criminal Judgments  ||  SC Calls For Sensitising Future Generations on Equality in Marriage to Combat Dowry Practices  ||  SC: Separate Suits Against Confirmed Auction Sales are Barred; Remedy Available under Sec 47  ||  NCLT Mumbai: Oppression Claims Against Majority Shareholders Do not Justify Winding up a Company  ||  J&K&L HC Rules it Illegal and Inequitable to Deny Regularisation to a Daily Wager After 34 Years  ||  J&K&L High Court: Revisional Powers Must Be Used Within Reasonable Time; Merits Don’t Justify Delay  ||  Supreme Court: Compassionate Appointees Cannot Later Claim Entitlement to a Higher Post  ||  NCLAT New Delhi: Insolvency Pleas Cannot Be Admitted When Information Utility Records Show a Dispute  ||  NCLAT: Issuing Cheques For Another Entity’s Liabilities Does not Constitute Operational Debt    

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