Home Highlights July 2013 Year 2013 This

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1. Determining the jurisdiction of appellate forum - jurisdiction of this Tribunal - The Tribunal refers to the legal precedent established in a Supreme Court case...

2. Reopening of assessment u/s 147 - Assessing Officer to usurp the jurisdiction to reopen the assessment - The first Assessing Officer has made the reassessment after...

3. Revision u/s 263 - bogus purchase - proof of nexus between the purchases and sales - once submission/reply filed by the assessee, pursuant to enquiry by the Assessing...

4. Penalty levied u/s 271(1)(b) - assessee had failed to provide full submissions - penalty levied by the Assessing Officer u/s 271(1)(b) of the IT Act deserves to be...

5. Rectification of mistake u/s 154 - Disallowance of provision for ex-gratia - CIT(A) has provided an opportunity to the assessing officer to examine the mistake committed...

6. The Appellate Tribunal examined the validity of the reassessment notice issued u/s 148 and the consequent order passed u/s 147 regarding the addition made by the...

7. The assessment years beyond six years but not exceeding ten years can be reopened u/s 153A only if the Assessing Officer possesses evidence depicting escapement of...

8. Disallowance u/s 14A read with Rule 8D - The assessing officer's reliance on CBDT Circular No. 5 of 2014 to make disallowance u/s 14A is legally untenable and liable to...

9. Impugned order set aside, matter remitted back to Assessing Officer for fresh consideration. Assessing Officer rejected claim based on Tax Audit Report not being duly...

10. The High Court held that for levying penalty u/s 271D for violation of Section 269SS, the Assessing Officer must record satisfaction that the provisions were violated....

11. Assessment u/s 153A - Addition u/s 69A by the Assessing Officer on account of difference in amount credited in bank and sale proceeds shown in the income tax return. It...

12. The issue pertained to the validity of filing a revised return after the prescribed time limit. The High Court set aside the Tribunal's order, stating that after the...

13. The Appellate Tribunal dismissed the assessee's appeal regarding the revision u/s 263 concerning unsecured loans received. The Principal Commissioner found that the...

14. The High Court quashed the reopening notice issued by the Assessing Officer u/s 148 for reassessment beyond the period of four years. The assessee had filed returns...

15. The High Court held that the Assessing Officer cannot reopen the assessment u/s 147 merely based on a change of opinion. The assessee had fully and truly disclosed all...