The Delhi High Court has referred a significant legal question regarding income tax reassessment of foreign assets to a larger bench, potentially impacting numerous cases involving time-barred assessments. A division bench comprising Justice Vibhu Bakhru and Justice Tejas Karia passed …
The Income Tax (I-T) department is on track to complete reassessments for 170,000 notices by March 2025. These reassessment notices, issued between March 2021 and March 2024, pertain to undisclosed income from past assessment years. The Central Board of Direct …
Faceless Notice for Income Tax Reassessment u/s.148A: Telangana High Court The Telangana High Court has underlined that notices issued by the income-tax department to taxpayers for reassessment of returns under Section 148A of the Income Tax Act must now follow …