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- Income Tax Limit for AY 2015-2016 - The assessment year 2015-2016 generally refers to income earned in the financial year 2014-2015. Under Indian Income Tax laws, the normal time limit for reassessment is 4 years from the end of the relevant assessment year, but this can extend to 6 years if certain conditions are met, such as the income escaping assessment exceeding Rs. 1 lakh. For AY 2015-2016, the reassessment window would typically be until March 31, 2021, unless the income escaped assessment beyond Rs. 1 lakh, in which case the limit extends to March 31, 2022 Assessee vs Revenue - Income Tax Appellate Tribunal, AVTEC LIMITED VS DY. COMMISSIONER OF INCOME TAX - Delhi.
- Limitation Period and Validity of Assessments - Assessments issued beyond the statutory time limit (generally 4 or 6 years) are invalid, as confirmed by courts in various cases. For example, notices issued after the five-year limit were declared invalid, emphasizing that the law does not allow retrospective extension of limitation periods S NAJEEM vs COMMERCIAL TAX OFFICER - Kerala.
- Taxable Income and Exemptions - The law specifies that only income exceeding certain thresholds or undisclosed income can trigger reassessment. If the income is within the prescribed limits, the assessee may not be liable to pay additional tax Smt. Elangovan Malarmangai vs The Addl. Commissioner of Income Tax, Central Range – 2, Chennai - Income Tax Appellate Tribunal, Assessee vs Revenue - Income Tax Appellate Tribunal.
- Disputed and Undisclosed Income - Income that has been previously assessed or disclosed, and not specifically undisclosed or escaped assessment, generally does not attract reassessment beyond the statutory period. The law aims to prevent reopening assessments where no new material or undisclosed income is involved Sun Pharmaceutical Industries Limited VS Deputy Commissioner Of Income Tax - Gujarat.
- Conclusion - For AY 2015-2016, the assessee could avoid additional income tax if the reassessment was initiated within the prescribed limitation period (generally 4-6 years), and if the income in question did not qualify as undisclosed or escaped income exceeding Rs. 1 lakh. Assessments beyond these limits are invalid, and the law strictly enforces these timeframes to prevent arbitrary reassessment Assessee vs Revenue - Income Tax Appellate Tribunal, AVTEC LIMITED VS DY. COMMISSIONER OF INCOME TAX - Delhi, S NAJEEM vs COMMERCIAL TAX OFFICER - Kerala.
Summary:
Up to the assessment year 2015-2016, an assessee could not be subjected to reassessment or additional income tax if the assessment was initiated within the statutory time limit (typically 4 years, extendable to 6 years for income exceeding Rs. 1 lakh) and if the income was not undisclosed or escaped assessment. Assessments beyond these periods are invalid, providing a safeguard against indefinite reopening of tax assessments.
Search Results for "For the Assessment Year 2015 2016 up to what Limit the Assessee Could Not have to Pay Income Tax"
2021 0 Supreme(Guj) 930 • India - Gujarat
J.B.PARDIWALA, ILESH J.VORA
income for A.Y. - Respondent passed draft assessment order under Section 143(3) read with Section 92CA read Section 144C of Income ... 1) and (2A) - Income Tax (Appellate Tribunal) Rules, 1963 - Rule 35(A) – Income tax – Draft - Writ applicant filed its return of ... Tax Act - Against the aforesaid draft assessment order, writ applicant made a reference to Dispute Resolution Panel under Section ... The assessee is ....
2025 Supreme(Online)(ITAT) 6684 • India - Income Tax Appellate Tribunal (Chennai Bench)
SHRI GEORGE GEORGE K, VP, SHRI S.R. RAGHUNATHA, ACM
Section 5 (1)(ii) of the BM Act talks about ‘any income which has been assessed to tax for any assessment year under the Income-tax Act prior to the assessment year to which this Act applies’ and not about whether the said income so assessed had been disputed ... Thus, while in case of undisclosed foreign income of an assessee, the same would b....
2025 Supreme(Online)(ITAT) 4011 • India - Income Tax Appellate Tribunal (Ahmedabad Bench)
DR. B.R.R. KUMAR, VP, Ms. SUCHITRA KAMBLE, J
Income Tax Act, 1961 (hereinafter referred to as "The Act" for short) for the Assessment Years 2005- 06 and 2007-08. Additionally, the assessee has also filed cross-objections for both the assessment years mentioned above. ... of the points as to whether the income returned should be assessed under the head "income from business" or not, were already on record. ... of assessment and reassessment of incom....
2017 0 Supreme(Del) 1766 • India - Delhi
S.MURALIDHAR, CHANDER SHEKHAR
Fact of the Case: The court considered three writ petitions challenging the notices issued under Section 148 of the Income ... The Assessee then took the said assessment order for the AY 2006-07 in appeal to the Commissioner of Income Tax (Appeal) [‘CIT (A)’]. ... ... In view of the above, I have reason to believe that due to failure on the part of the assessee to disclose all the material facts truly or fully, income of Rs.7,16,299/- have escaped assessme....
2016 Supreme(Online)(KER) 31870 • India - High Court of Kerala
A.M.SHAFFIQUE, J
Various group cases arose wherein notices were issued after the statutory five-year limit. ... Finding of the Court: The court found that all assessment notices issued beyond the five-year limitation were invalid ... 25B do not apply retroactively to save such assessments made after the limitation period. ... Commissioner under Section 144B of the Income Tax Act were to be excluded from computing the time limit for asses....
2018 0 Supreme(Mad) 2949 • India - Madras
S.M.SUBRAMANIAM
The writ petitioner-Company states that they have filed the return of income within the time limit stipulated. ... Writ petitions challenging the notices issued under Section 148 of the Income Tax Act, 1961 (hereinafter referred to as the 'Act ... WP Nos.44312 and 44313 of 2016 are filed challenging the notices issued under Section 148 of the Act in respect of the assessment ... the Income Tax Act in respect of the assessment #HL_ST....
2021 0 Supreme(Kar) 345 • India - Karnataka
KRISHNA S.DIXIT
Petitioner's return of income for Assessment Year 2008-09 declaring a total income having been selected for scrutiny u/s 143(2) of ... Constitution Of India, 1950 - Articles 226 & 227 - Income Tax Act, 1961 - Section 244A(1A) - Business of ... Tax ('JCIT) had proposed a Draft Assessment Order u/s 143(3) r/w 144C(1), to which petitioner filed his Objections before Dispute ... ; it also held that an ‘order of assessment’ is an order i....
2025 Supreme(Online)(ITAT) 4475 • India - Income Tax Appellate Tribunal (Mumbai Bench)
C V BHADANG, CJ
(A) Income Tax Act, 1961 - Section 14A and Rule 8D - Disallowance of expenditure related to exempt income - The appeals concern the ... disallowance under section 14A for different assessment years, with the Tribunal admitting additional grounds relating to ESOP deductions ... based on fair market value - The Tribunal emphasized that real income, not notional, must be taxed. ... In the instant case, there is no dispute that no income i.e., dividend, which did #HL_STAR....
2017 0 Supreme(Del) 2781 • India - Delhi
S.MURALIDHAR, PRATHIBA M.SINGH
Tax under Section 147 of the Income Tax Act, 1961 for Assessment Year 2011-12. ... Income Tax - Assessment Reopening - Section 147 - Section 80IC - Section 139(1) - Section 143(1) - Section 221(1) - Section 148 ... the consequential assessment order, as the delay in filing the return could not defeat the petitioner's claim for deduction under ... Hence, the claim of deduction u/s. 80IC on the #HL_....
2024 Supreme(Online)(ITAT) 1137 • India - Income Tax Appellate Tribunal (Ahmedabad Bench)
Siddhartha Nautiyal, Annapurna Gupta, JJ
... Facts of the case: ... The Department challenged the CIT(A)'s deletion of large additions due to lack of evidence from the assessee ... CIT(A) has erred in not appreciating that sec. 153A requires a notice to be issued requiring the assessee to furnish his return of income in respect of each assessment year falling within six assessment years and to assess or re-assess the total income of those six assessment years, and that t....
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