INCOME TAX UPDATES ( JUDGEMENTS)

CoronaVirus Infects ITSC, ITAT Delhi Shut Down

The Income Tax Settlement Commission (ITSC) has sent the grim information that Shri S.D. Jha, the Vice-Chairman of ITsC Delhi, has been tested COVID-19 Positive. Since ITsC and the ITAT Delhi Benches are sharing office premises at the Lok Nayak Bhawan, New Delhi on day to day basis, the ITAT Delhi Benches has taken preventive measures to contain the spread of COVID-19 and closed down the office at Lok Nayak Bhawan for the next two working days i.e. 4th & 5th June, 2020. All cases listed for virtual hearing on 4th & 5th June 2020 before ITAT Delhi are adjourned sine-die and the next date of hearing will be announced in due course

 

The Silver Lining During Lockdown

Dr K. Shivaram, Senior Advocate, has lauded the Income tax Appellate Tribunal and the Tax Professionals for playing a proactive role during lock down by organising Webinars on several subjects which have helped tax practitioners to better their understanding on various issues. He has pointed out that this salutary practice has also helped them to do away with negative thoughts that set in as a result of the Lockdown

 

Mere Bald Assertions By The AO In The Reasons For Reopening Would Confer Valid Jurisdiction To The AO To Reopen?

CA Sunil Maloo has pointed out that under the First Proviso to Section 147 of the Income-tax Act, 1961, a burden is cast upon the AO, in cases relating to reopening after the expiry of four years from the end of the assessment year, to show that income has escaped assessment due to a failure on the part of the assessee to make a full and true disclosure of the material facts. The ld. author has referred to all the important judgements and submitted that the AO has to give particulars of what facts were omitted to be disclosed for valid exercise of jurisdiction and a mere bald assertion by him is not sufficient

Regards

CA J.P.Jain