Having completed assessment it was not open for the AO, in the ...

Court Rules AO Cannot Reassess Without New Evidence; DVO Report Alone Insufficient for Reopening Case.

November 12, 2013

Case Laws Income Tax HC

Having completed assessment it was not open for the AO, in the absence of any material, which includes information, to doubt on the completed assessment and to reassess the assessee on the basis of the report of DVO. - HC

View Source

← Previous Next →

Having completed assessment it was not open for the AO, in the ...

Court Rules AO Cannot Reassess Without New Evidence; DVO Report Alone Insufficient for Reopening Case.

November 12, 2013

Case Laws Income Tax HC

You may also like:

Validity of Referring the matter to DVO - Additions based on valuation report - The High Court noted that the assessee had filed its return for the relevant assessment...

The High Court examined the validity of reopening assessments based on the report of the District Valuation Officer (DVO). It distinguished between "reason to believe"...

ITAT ruled against additions made under section 153A for unsecured loans (s.68) and interest expense disallowance (s.37(1)) in a concluded assessment year. Following SC...

Validity of reassessment proceedings challenged - capital gain on co-owned land sale - reassessment based on DVO report alleging suppression of lower valuation - reasons...

Revision u/s 263 based on DVO's report received after assessment culmination was invalid as per section 142A(4), DVO failed to provide opportunity of being heard to...

Valuation by DVO - addition based on estimated cost disregarding actual cost as per books - applicability of section 142A before amendment - non-rejection of books - AO...

Reopening of assessment u/s 147 - difference pointed out by the DVO in his valuation report - There should be a live link between the material coming to the notice of...

Capital gain computation - cost of acquisition of the asset as on 01.04.1981 - valuation report of the DVO Vs. Registered valuer Report - Approved Valuer’s report taking...

The High Court held that the Assessing Officer (AO) could not reopen the assessment merely based on a belief that the average gross profit in the assessee's business...

Validity of reopening of assessment u/s 147 – Reopening made on the basis of DVO’s report - once reference itself is held to be invalid or bad, the DVO’s report obtained...

Reopening of assessment u/s 147 was invalid as Assessing Officer (AO) failed to record that assessee did not disclose fully and truly all material facts necessary for...

CIT(A) determined profit at 5.47% on total purchases. Assessee produced sufficient evidence regarding purchases, movement of goods, GST payment on transportation,...

Validity of reopening of assessment u/s 147 - beyond 4 years but within 6 years - Report of the investigation wing might constitute tangible material. The decision to...

AO rejected registered valuer's report for cost of acquisition and relied on section 55A. ITAT held that if AO was unsatisfied with registered valuer's report, he should...

HC quashed notice for reopening assessment under s.147 due to AO's failure to specify which material facts were not fully disclosed by petitioner. Court emphasized that...

Quick Updates: