Home Highlights February 2014 Year 2014 This

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1. Reopening of assessment u/s 147 - Once a query has been raised by Assessing Officer through the assessment proceeding and the assessee has responded to that query, it...

2. 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...

3. Validity of reopening assessment challenged due to non-disposal of objections raised by assessee against reassessment. Deduction u/s 24(a) proposed to be disallowed....

4. Reopening of assessment u/s 147 - ‘reasons to believe’ and ‘reasons to suspect’ - Merely on the basis of suspicion observed that the aforesaid entry might be a bogus...

5. Reopening of assessment u/s 147 - double deduction u/s 80IB - In the reasons for re-opening, there is not even a whisper as to what was not disclosed. In our view, this...

6. 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...

7. The High Court held that reopening of assessment u/s 147 was not valid where the Assessing Officer had previously examined the claim for deduction of foreign exchange...

8. The Appellate Tribunal examined the reopening of assessment after four years and the addition u/s 68 of the Income Tax Act. It held that the original assessment was...

9. 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...

10. Reopening of assessment u/s 147 - assessment is in pursuance of an order on appeal, etc. u/s 150 - Already order of the Tribunal has been given effect to by the...

11. The assessee objected to the valuation report prepared by the district valuation officer and the stamp duty rate. The assessing officer referred the matter to the...

12. Notice issued by Jurisdictional Assessing Officer (JAO) instead of Faceless Assessment Officer (FAO) u/s 148A(b) for income escaping assessment is invalid. Faceless...

13. Reopening of assessment u/s 147 - When the primary facts necessary for assessment are fully and truly disclosed, the Assessing Officer is not entitled to a change of...

14. Reopening of assessment u/s 147 - change of opinion - when the primary facts necessary for assessment are fully and truly disclosed, the Assessing Officer is not...

15. Reopening of assessment u/s 147 - Reasons to believe - The ITAT thoroughly examined the reasons recorded by the AO for re-opening the assessment and found that there was...