Section 142 (2024)

FAQs

What is Section 142 of the Act? ›

(1)Notwithstanding anything contained in the Code of Criminal Procedure, 1973 (2 of 1974)— (a)no court shall take cognizance of any offence punishable under section 138 except upon a complaint, in writing, made by the payee or, as the case may be, the holder in due course of the cheque; (b)such complaint is made within ...

Under Section 142 of the Magistrates Court Act 1980, magistrates have the authority to get your case reopened in order to rectify an error. This might be used if you have missed a stage in the case proceedings, or if you have been found guilty and convicted in your absence.

08 Section 142(d)(2)(A) provides that the term “qualified project period” means the period beginning on the first day on which 10 percent of the residential units in the project are occupied and ending on the latest of (i) the date that is 15 years after the date on which 50 percent of the residential units in the ...

Section 142(1) of the Income Tax Act 1961 grants the authorities the authority to issue a notice when additional information or further details are needed, particularly in cases where a tax return has been filed or in cases where it has not been filed, to compel the taxpayer to provide the necessary information in the ...

Article 142 of the Constitution confers wide-ranging powers on the highest court of the land to pass orders and decrees necessary to ensure 'complete justice' in any case before it.

If you don't comply with Notice u/s 142(1), then: A penalty of Rs 10,000 can be imposed on you u/s 271(1) (b). Your case can fall under “Best Judgement Assessment” u/s 144, where the assessment will be carried out according to the Assessing Officer's best judgment based on all the relevant material he gathered.

Being member of unlawful assembly. — Whoever, being aware of facts which render any assembly an unlawful assembly, intentionally joins that assembly, or continues in it, is said to be a member of an unlawful assembly.

(1) The remuneration of the auditor of a company shall be fixed in its general meeting or in such manner as may be determined therein: Provided that the Board may fix remuneration of the first auditor appointed by it.

A response to a notice under Section 142(1) has to be furnished electronically only via the 'e-Proceedings' utility in the registered 'e-Filing' accounts of the assessee. There is no need to visit the income tax office or schedule an in-person meeting with any assessing authority in this regard.

Guarantee obtained by misrepresentation, invalid. — Any guarantee which has been obtained by means of misrepresentation made by the creditor, or with his knowledge and assent, concerning a material part of the transaction, is invalid.

How do I respond to a 142 notice? ›

A response to a notice under Section 142(1) has to be furnished electronically only via the 'e-Proceedings' utility in the registered 'e-Filing' accounts of the assessee. There is no need to visit the income tax office or schedule an in-person meeting with any assessing authority in this regard.

Are there any limitations or safeguards on the powers under Section 142? Yes, the powers under Section 142 are subject to certain limitations and safeguards. The assessing officer must have a reasonable belief that the information or documents being requested are relevant to the assessment or reassessment process.

(1) A company must have a registered office in this jurisdiction. Communications and notices to the company may be addressed to its registered office.