Taxmann's Law Relating to Reassessment – Comprehensive Treatise—Featuring over 3,500 Case Laws | 147 FAQs | Detailed Coverage of Key Topics, All Presented in a User-friendly Format  (Paperback, D.C. Agrawal, Ajay Kumar Agrawal)

This book comprehensively analyses the reassessment provisions under the Income Tax Act, 1961, ex-ploring its historical evolution and the latest amendments introduced by the Finance (No. 2) Act, 2024. It discusses the complexities of tax planning, avoidance, and evasion, illustrating how taxpayers may unintentionally cross into evasion through various practices. The book extensively analyses Sections 147 to 153 and related provisions, blending clear explanations with practical insights and referencing over 3,500 case laws, making it both a legal reference and a practical resource for professionals. The Fourth Edition highlights old and new reassessment procedures, detailing significant changes. It covers critical topics such as deemed information, procedural requirements for notices, approval processes, penalties, and the aggregation of escaped income, focusing on practical applications. It is designed to be accessible for seasoned tax professionals and newcomers; the book presents complex concepts in an easy-to-understand format, using clear explanations, FAQs, and practical examples. Each chapter begins with an introduction and systematically examines relevant legal provisions, procedural steps, and judicial interpretations, enhancing the reader's understanding. Dedicated chapters on key issues, including revisions under Section 263, assessments in search and requisition cases, and the 'travel back in time' theory, further add to the book's practical value. This book is helpful for tax professionals, le-gal practitioners, academicians, and tax administrators involved in income tax reassessment. It caters to chartered accountants, tax consultants, and lawyers, providing comprehensive insights into reas-sessment laws and recent amendments. The Present Publication is the 4th Edition and has been amended by the Finance (No. 2) Act, 2024. This book is authored by D.C. Agrawal & Ajay Kumar Agrawal with the following noteworthy features: (i) [Exhaustive Coverage of Reassessment Provisions] The book covers the entire reassessment framework under the Income Tax Act, including detailed dis-cussions on Sections 147 to 153, historical developments, procedural aspects, and the impact of suc-cessive amendments from 1918 to 2024. It addresses the concept of recording reasons before reopen-ing assessments to ensure fairness and reduce arbitrary actions by tax authorities (ii) [Detailed Analysis of Amendments and Judicial Interpretations] It provides a comprehensive analysis of the legislative changes over the years, including the introduction of Block Assessments, the new reassessment scheme under Sections 153A to 153D for search and seizure cases, and the reintroduction of older pro-cedures with modern modifications. The book explores the impact of landmark judicial decisions, such as GKN Driveshafts (India) Ltd. v. ITO, and how these rulings have shaped current reassessment proce-dures (iii) [Incorporation of Over 3,500 Case Laws] The book includes an extensive digest of case laws from the Supreme Court, High Courts, and Tribunals, making it not only a comprehensive legal guide but also a practical reference for understanding how reassessment laws are interpreted and applied by the judiciary (iv) [FAQs and Practical Guidance] The book includes approximately 147 Frequently Asked Questions (FAQs) covering various reassessment scenarios, practical implications, and procedural nu-ances to address common doubts and provide clarity. This section is designed to provide quick, authori-tative answers (v) [Chapters on Key Topics] The book dedicates specific chapters to crucial topics such as revisions under Section 263, assessments in search and requisition cases, implications of penal pro-visions, responses to notices under new laws, and enhancement in reassessment by CIT(A) and Tribu-nal. It also discusses critical concepts like deemed information, aggregation of escaped income, and the procedural specifics of Sections 148A and 149 (vi) [In-depth Analysis of Procedural and Substantive Aspects] The book thoroughly examines procedural and substantive aspects of reassessment, including the issuance and service of notices, approval requirements, time limits, and the validity of notices un-der specific circumstances. It highlights conditions under which deemed provisions of Section 148 and procedures under Section 148A can be applied, as well as the implications of these procedures on the reassessment process (vii) [User-friendly Structure with Clear Explanations] Each chapter begins with an introduction and systematically covers relevant legal provisions, procedural steps, and judicial inter-pretations, making it accessible for seasoned professionals and beginners. Headlines and summaries at the start of each paragraph provide a quick overview (viii) [Special Focus on the Latest Amendments] The book details the amendments made by the Finance (No. 2) Act, 2024, including the reversion to earlier reassessment procedures with specific modern enhancements. It discusses the rationale behind these changes, the introduction of Section 148A, the conditions for reopening assessments, and the implications of these new provisions on tax assessments (ix) [Practical Utility for Professionals] De-signed as a practical tool, the book provides strategies for effectively presenting reassessment cases before Revenue and Appellate Authorities. It emphasises the practical application of reassessment laws, including best practices for responding to reassessment notices, handling objections, and ensur-ing compliance with procedural requirements (x) [Resource for All Levels] While comprehensive and detailed, the book's clear explanations and structured approach suit beginners and experts. It bridges the gap between complex statutory provisions and their practical application, helping users from di-verse backgrounds understand the intricacies of reassessment