Finance Act, 2016

Vodafone Idea Ltd. filed income‑tax returns for AY 2014‑15 to AY 2017‑18 claiming large refunds. The Assessing Officer issued notices under s.143(2) for each year and, invoking s.143(1D) and s.241A, declined to process the returns under s.143(1) and withheld refunds, arguing that the notice itself sufficed to defer pro…

The Deputy Commissioner of Income Tax issued a notice under Section 147 to reopen the assessment of M/s M.R. Shah Logistics for AY 2010-11 based on material seized during a search of an accommodation‑entry provider and on the alleged unaccounted income of promoters. The assessee argued that the reopening was premised o…

The Supreme Court examined bail applications of Satyendar Kumar Jain, a former Delhi minister, and his associates Vaibhav and Ankush Jain, who were charged under the Prevention of Money Laundering Act (PMLA) for allegedly using shell companies to launder approximately Rs 4.81 crore through accommodation entries. The Co…

The Supreme Court examined the interplay between Section 144C, which provides a special dispute‑resolution procedure for eligible assessees, and Section 153(3) of the Income Tax Act, which prescribes a twelve‑month limitation for fresh assessments. The Court held that the limitation under Section 153 applies only to th…