Commercial's  Understanding Of Law & Procedure Of Reassessment

Commercial's UNDERSTANDING OF LAW PROCEDURE OF REASSESSMENT – 6th Edition 2025 is a meticulously updated and in-depth guide that explains the nuanced legal framework, procedural intricacies, and judicial interpretations surrounding reassessment under the Income Tax Act, 1961. Designed to equip professionals, tax practitioners, and advanced learners with a clear understanding of reassessment provisions, this book presents complex legal concepts in an accessible and practical format.

This 6th edition has been updated in line with the latest amendments introduced by the Finance Act, 2025, as well as recent judicial pronouncements from the Supreme Court and High Courts. It provides a detailed treatment of Sections 147 to 153 of the Income Tax Act, elaborating on notices, time limits, reasons to believe, and rights of the assessee, along with procedural compliance and safeguards.

Key Features:

• ✅ Exhaustive Analysis of Reassessment Law: Comprehensive commentary on all aspects of reassessment including “reason to believe,” escapement of income, reopening post-search, and issuance of notices.

• ✅ Latest Amendments Covered: Incorporates changes introduced by the Finance Act, 2025 and recent CBDT circulars and instructions impacting reassessment procedure.

• ✅ Landmark Case Law Reference: Discusses crucial Supreme Court and High Court rulings that shape reassessment interpretation, including Union of India v. Ashish Agarwal and related jurisprudence.

• ✅ Step-by-Step Procedural Guide: Offers detailed procedural flow, timelines, and compliance checklist for issuing and responding to reassessment notices.

• ✅ FAQs and Practical Scenarios: Includes practical insights, real-life scenarios, and FAQs to clarify grey areas and provide practical solutions for handling reassessment issues.

• ✅ Applicable for Tax Professionals & Legal Advisors: Designed for use by chartered accountants, income tax practitioners, legal consultants, CFOs, and litigators.

Why This Book is Essential:

• 🔹 Authoritative Yet Practical: Written in an authoritative tone with practical insights to help professionals manage reassessment risks and opportunities effectively.

• 🔹 Ideal for Compliance and Litigation: Equips readers to handle reassessment cases confidently at both assessment and appellate levels.

• 🔹 Compliant with Latest Judicial Trends: Keeps readers updated with how courts are interpreting reassessment provisions in the evolving legal environment.

• 🔹 Enhances Strategic Planning: Helps tax advisors and businesses design better risk management strategies in light of reassessment exposure.

• 🔹 Supports Academic and Professional Learning: A valuable resource for academic study, exam preparation, and reference in legal/tax research.

Commercial's UNDERSTANDING OF LAW PROCEDURE OF REASSESSMENT – 6th Edition 2025 remains the go-to reference for mastering the subject of reassessment in Indian income tax law. Whether you’re navigating a reassessment case, advising clients, or enhancing your academic understanding, this book provides the legal clarity and practical tools you need to succeed in this high-stakes area of tax law.