“Section 149(2)(b)”
The decision most relied on for Section 149(2)(b) is M B Traders v. ACIT (132 TTJ 490), cited in 27 judgments on BharatTax.
Leading authorities on Section 149(2)(b)
Section 148 notices can be issued at any time for assessments or reassessments made in consequence of or to give effect to any final finding, direction, or order of any higher authority.
Reassessment proceedings initiated after four years from the end of the assessment year are invalid if there was no failure on the part of the assessee to disclose fully and truly all material facts necessary for the assessment.
Section 149 of the Income Tax Act, 1961, only mandates the issuance of a notice within the prescribed period and does not require the notice to be served on the assessee within that same period.
The Assessing Officer (AO) is not required to prove that share money originated from the assessee's own funds; Section 68 of the Income Tax Act does not place such a burden on the AO.
An assessment order passed against a deceased person, even if initiated after death, is null and void and must be set aside, especially when the return was filed by the legal representative.
Approval for issuing a notice under section 148, based on a standard phrase indicating it's a fit case, does not constitute an independent application of mind and is flawed in law.
The sanction for issuing a notice under section 148 of the Income-tax Act, 1961, requires the Commissioner to be satisfied that it is a fit case for issuing such notice, which necessitates an application of mind and cannot be done mechanically.
Delay in filing an appeal can be condoned if it is due to reasonable cause and not gross negligence or carelessness on the part of the assessee.
