What is section 147?
Asked by: Josh Doyle | Last update: September 8, 2025Score: 4.9/5 (63 votes)
Under IRC 147, net bond proceeds of private activity bonds are not permitted to be used to acquire an existing facility unless the first use of the property is pursuant to the acquisition. An exception to this rule is available when a qualifying amount is spent on rehabilitation of the acquired property.
What is the section code 147?
Section 147 of the Income Tax Act, 1961 provides for the reopening of assessment proceedings. This section gives discretion to the Assessing Officer (AO) to reopen the assessment proceedings when he/she has reason to believe that some of the income has escaped assessment.
What is the code 147?
Every officer who is guilty of willful inhumanity or oppression toward any prisoner under his care or in his custody, is punishable by fine not exceeding four thousand dollars ($4,000), and by removal from office.
What is the charge 147?
147. Whoever is guilty of rioting shall be punished with imprisonment for a term which may extend to 7 years and shall also be liable to caning.
What is Section 147 of the IRS?
Under IRC 147, net bond proceeds of private activity bonds are not permitted to be used to acquire an existing facility unless the first use of the property is pursuant to the acquisition. An exception to this rule is available when a qualifying amount is spent on rehabilitation of the acquired property.
What is Advance Tax | Intimation to pay Advance Tax | Section 147 | Muhammad Faizan Bin Asif
How do you respond to notice under section 147?
The taxpayer must address the specific concerns raised by the AO in the revised return, including any previously unreported or misreported income. This revised return should correct the issues identified in the original filing.
What is punishment of 147?
Section 147:- Punishment for rioting
Whoever is guilty of rioting, shall be punished with imprisonment of either description for a term which may extend to two years, or with fine, or with both.
What is the maximum sentence for false imprisonment in California?
California Penal Code § 236 PC defines false imprisonment as unlawfully restraining, detaining, or confining a person against his or her will. The crime can be charged as either a misdemeanor or felony and is punishable by up to three years in jail.
What is the charge 151?
IPC Section 151 - Knowingly joining or continuing in assembly of five or more persons after it has been commanded to disperse | Devgan.in.
What is the reason code 147?
147 Provider contracted/negotiated rate expired or not on file. 148 Information from another provider was not provided or was insufficient/incomplete. At least one Remark Code must be provided (may be comprised of either the NCPDP Reject Reason Code, or Remittance Advice Remark Code that is not an ALERT.)
What is status code 147?
Status 147: The requested copy number of a backup or an archive image cannot be found.
What is bill type 147?
This bill would specify that, on and after April 1, 2019, a retailer engaged in business in this state includes any retailer that, in the preceding calendar year or the current calendar year, has total combined sales of tangible personal property for delivery in this state by the retailer and all persons related to the ...
What is the 147 rule?
Rule 147 is a rule that can be used by a company to raise funds without actually registering with the Securities and Exchange Commission (SEC).
What is the penal code 147?
147. Every officer who is guilty of willful inhumanity or oppression toward any prisoner under his care or in his custody, is punishable by fine not exceeding four thousand dollars ($4,000), and by removal from office.
What is liability under section 147?
Liability of co-sureties bound in different sums. — Co-sureties who are bound in different sums are liable to pay equally as far as the limits of their respective obligations permit.
How much can I sue for false imprisonment?
The payout will loosely correspond to $1,000 for each hour you were unlawfully incarcerated. If you were arrested without injury, it may be useful to aim for a quick settlement with the police. The reason for that is most false arrest lawyers take cases on a contingency basis.
Who has been falsely imprisoned?
- Kristine Bunch was wrongfully convicted in Indiana for arson and murder of her three-year old son who died in an accidental fire. ...
- Johnathan Barr was one of the Dixmoor 5 who was wrongfully convicted of a 1991 rape and murder.
What is the maximum sentence in California?
Life without parole (“LWOP”) is a prison sentence in a California criminal case in which a convicted person is committed to state prison for the rest of their life without the possibility of parole. LWOP is the harshest sentence short of the death penalty and is reserved for only a handful of the most serious crimes.
What is the time limit for Section 147?
What is the time limit for reassessment under Section 147? Generally, a reassessment can be initiated within four years from the end of the relevant assessment year. However, if income exceeding INR 50 lakh has escaped, this period extends to 10 years.
Is section 147 compoundable?
5.22. 1.2 The Commission is of the view that on the same lines, the offence of rioting under Section 147 of IPC can be made compoundable and it can be brought under the purview of Section 320(2).
What is Section 147 of the audit?
Provided that if an auditor has contravened such provisions knowingly or wilfully with the intention to deceive the company or its shareholders or creditors or tax authorities, he shall be punishable with imprisonment for a term which may extend to one year and with fine which shall not be less than one lakh rupees but ...
What is the order under section 147?
—For the purposes of assessment or reassessment or recomputation under this section, the Assessing Officer may assess or reassess the income in respect of any issue, which has escaped assessment, and such issue comes to his notice subsequently in the course of the proceedings under this section, irrespective of the ...
What is the best Judgement assessment?
Under Section 144, best judgement assessment allows an assessing officer to use his best judgement against you if you fail to file income tax returns or fail to provide all the required information or withhold information.
What is section 148?
What is Section 148? Section 148 of the Income Tax Act mentions that any tax calculation that has not been reassessed will be notified by the tax department. It also states that an IT Assessing Officer Will contact the assessee in question.