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Showing posts with the label Income Tax Act 1961

Tax Law : Reassessment Proceeding must be Initiated within the Time Limit [Case Law]

Income Tax Act, 1961 -  Section 149(1)(b) -  Reassessment proceeding must be initiated within the time limit prescribed.
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Agreement need not be in Writing but can be Oral also, Same can be Inferred from Conduct of Parties [SC Judgment]

A n agreement need not be in writing but can be oral also and the same can be inferred from the conduct of the parties. [Para 11]
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Income Tax Act & Rules - Whether S.14A (2) & (3) inserted w.e.f. 01.04.2007 will Apply to all Pending Assessments? Whether Rule 8D is Retrospectively Applicable ?

Income Tax Act 1961 - S. 14A(2) &  S. 14A(3) -  Income Tax Rules, 1962 - R. 8D -  Whether sub­section (2) and sub­section (3) of Section 14A inserted with effect from 01.04.2007 will apply to all pending assessments? Whether Rule 8D is retrospectively applicable ?
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