Genuineness of purchases
Adv. Priyanshi Desai
March 29, 2024
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Genuineness of purchases Introduction The taxpayers during the course of carrying out business of manufacture, wholesale trade and retail trade incur business expenditure by way
Decoding Bombay High Court’s Landmark Ruling on Income Tax Reassessment: Sanction of specified authority,TOLA, CBDT Instruction
Adv. Priyanshi Desai
September 9, 2023
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Table of Contents Introduction Bombay High Court in a recent judgment had deliberated on following issues under reassessment scheme of Income-tax Act, 1961: Sanction of
Reassessment After Three Years Not Sustainable In Absence Of Tangible Material On Record Reflecting That Income Escaping Assessment Is Amounting To Rs. 50 Lacs Or More- Abdul Majeed Son Of Shri Ali Mohammed V. Income Tax Officer:
Adv. Priyanshi Desai
March 14, 2023
No Comments
Introduction: Section 149(1) of the Income Tax Act, 1961 (hereinafter referred as the Act) provides time limits for issuance of notice under Section 148 of