Home Highlights May 2017 Year 2017 This

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1. Reassessment u/s 147 - validity of notice - reasons for reopening the assessment have been recorded by the jurisdictional AO viz. the Dy. CIT, Circle 2, Jamnagar but the...

2. Validity of reassessment proceedings - non-issue of the statutory notice u/s 143(2) - The Appellate Tribunal found that the AO had not issued the statutory notice under...

3. Reassessment - Validity of notice u/s 148 of the Act – Reason to believe – The material found in post search enquiries could form a “reason to believe“ that income had...

4. Validity of reassessment proceedings - Reason to believe - The tribunal found that there was sufficient "reason to believe" that income had escaped assessment due to the...

5. Validity of reopening of assessment u/s 147 - mandation to issue notice u/s 148 - The reassessment proceedings can only commence once notice under Section 148 of the Act...

6. Reopening of assessment u/s 147 - Initiation of reassessment proceedings, u/s.148 of the Act and issued notice to the assessee was based on valid reason on the strength...

7. Re opening of assessment - before issuance of notice u/s 148 reasons were recorded for one issue only - reaons for other two issues were recorded after issuance of ...

8. Reopening of assessment u/s 147 - unexplained cash payment - Two notices issued u/s 148 - it is a case where pending conclusion of the first reassessment proceedings,...

9. Reopening of assessment u/s 147 - Penny stock transaction - It is settled law that sufficiency or adequacy of the reasons for the issuance of the notice for reopening of...

10. Reopening of assessment u/s 147 - It is well established that the reasons recorded by the AO cannot be further be substituted or added or deleted - We are of the view...

11. Validity of reopening of assessment - Non-issuance of notice u/s. 148 - Once it is proved that notice u/s.148 was not issued, there cannot be any question of making any...

12. Reopening of assessment u/s 147 - Reasons for issuing notice u/s.148 - issue of notice by non-jurisdictional officer (Before transfer of Case) - at the time of...

13. Reassessment u/s. 147 - non availability of file containing reasons to believe - there is no material brought to our notice that reasons were recorded before issue of...

14. Validity of reopening of assessment - scope of old unamended law and new inserted section 148A - The High court held that notices issued under the newly inserted Section...

15. Validity of reopening of assessment u/s 147 - Issuing of notice u/s 148 in the wrong name - it was only a typographical error in first name of the assessee though other...