Undisclosed Capital gain - Scope of block assessment proceedings ...

Assessing Officer Limited to Undisclosed Income in Block Assessments; External Evidence Not Permissible Under Chapter XIV-B.

August 26, 2013

Case Laws Income Tax HC

Undisclosed Capital gain - Scope of block assessment proceedings - AO is concerned only with undisclosed income and he has no power to consider material and evidence not detected as a result of some external information or a survey or some other source other than a search - if it is found that some income had escaped assessment, then it is open for the AO to resort to a regular assessment including re-opening a completed assessment but he cannot drag these items into the block assessment proceedings envisaged under Chapter XIV-B of the Act - HC

View Source

← Previous Next →

Undisclosed Capital gain - Scope of block assessment proceedings ...

Assessing Officer Limited to Undisclosed Income in Block Assessments; External Evidence Not Permissible Under Chapter XIV-B.

August 26, 2013

Case Laws Income Tax HC

You may also like:

Introduction of block assessment provisions in cases of search u/s 132 and requisition u/s 132A for early finalization of search assessments, coordinated investigation,...

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...

Unexplained investments u/s 69- Tribunal deleted the addition - The term assessed being flexible, it bears very comprehensive meaning. Therefore, under Section 158BB of...

The Tribunal held that the assessment order passed by the Assessing Officer was barred by limitation and quashed it. As per Section 144C(13) read with Section 143(3),...

Validity of Assessment u/s 153A - in cases where the assessment or reassessment proceedings have already been completed and assessment orders have been passed, which...

The case pertains to the scope of limited scrutiny by the assessing officer regarding computation of capital gains u/s 45 and providing exemption u/s 54B of the Income...

Formation of belief by the Assessing Officer that income has escaped assessment is the crux of the reopening provision. The reasons recorded must be based on tangible...

The final assessment order passed by the Assessing Officer u/s 147 read with Section 144C(13) for the Assessment Year 2016-17 is quashed as barred by limitation. Except...

Reopening of assessment u/s 147 - As examined the belief of the Assessing Officer to a limited extent to look into whether there was sufficient or any tangible materials...

Addition of undisclosed income of the block period u/s 158BB - non-filing of the return for the assessment year 1995-96 on the ground that after allowing the deduction...

Validity of assessment order passed u/s 153(1) - Period of limitation - In this case, since, the Assessing Officer cannot invoke jurisdiction u/s.144C(1) and pass draft...

Income from undisclosed sources - addition of agricultural income - Assessment of agricultural income declared by the assessee for various assessment years was...

The Income Tax Appellate Tribunal held that when the assessing officer considered undisclosed income based on seized material, they ought to have also considered...

The High Court quashed the reopening of assessments u/s 148, holding that the reasons recorded by the Assessing Officer were cryptic, vague, lacking nexus, and...

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...

Quick Updates: