Respected Professional,
I've a Commission business in which huge transaction of Cash is involved but commission thereon is below the threshold of tax and i've failed to file my ITR for the AY 2018-19 for which order under section 148 has been passed but I was unable to file my return against that order and now intimation u/s 144B has been served.
Is it alright to file my return against order u/s 148 & how to deal with intimation u/s 144B.
Kindly give your suggestion regarding the same.
2 Replies
CA Aakarsh Jain
(CA)
(10431 Points)
Replied 25 August 2022
I have the experience in dealing with Income tax notices. If you need any help then please share the notices with me first. Please check your inbox for that.
Adv. Ravish Bhatt, ADIT, CIOT
(Dual Qualified Lawyer/ Solicitor International Tax Affiliate CIOT)
(1110 Points)
Replied 25 August 2022
The thread already answers about how to deal with intimation u/s.144B. I however put some additional comments with regard to s.148A/s.148 which you can think over.
Pursuant to any s.148A is a procedural safeguard for benefit of assessee which must be followed by assessing officer before issuing a notice u/s.148. In your case, since you file a reply to 148A notice(presumably objecting to reopening of assessment) and the same got rejected. As far as department is concerned, the decision is final and you need to file a return etc.
However, on various grounds including an order having been passed on non existent/ perverse reasons or presumptions, 148A order not dealing with your reply properly, absence of nexus between material available on record and formation of reason to believe that any income escaped assessment, you may be able to successfully challenge the order reopening the assessment itself before jurisdictional High Court.
While each case depends on facts, in my experience, I have seen that majority of orders suffer from one or the other lacunae and can be challenged before High Court to avoid assessment in toto; at occasion courts have also intervened even if assessment orders were passed.
For any proceedings before amended section 148A came in force, similar safeguards were available in form of different judicial pronouncements.
Good luck!
Recent Topics
- GST on religious and charitable institutions
- File an Amended Income Tax Return to Exclude Polit
- FIFT TO HUF - SEC 64 AND SEC 54 RELATED
- Selling my 12+ years old Private Limited Company
- 5 YEAR OLD DELHI ROC COMPANY
- GST Order to pay penalty without proof of wrongdoi
- TDS Applicability on Rent to KINFRA
- Profit and Loss Statement Analysis: Gross Profit,
- PAYMENT OF RCM under gst
- Tally Entry On Accounting Payables
Related Threads
CAclubindia
