Home Highlights February 2014 Year 2014 This

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1. Reopening of assessment u/s 147 - Mere production of books of account and the details by the assessee are one aspect of the matter and even with reference to such books...

2. Reopening of assessment - the notice for reopening was issued under the directives and compulsion of the audit party, a mode which is not permissible - HC

3. Reopening of Assessment – Claim of depreciation was not considered earlier - if there is no sanction as required under section 151 of the Act, the reopening would still...

4. Challenging reopening of assessment - notice u/s 148 - the basis of the order is completely different from the reasons recorded for reopening the assessment which is...

5. Reopening of assessment - reopening is not permissible in the case of the assessee when the limitation was not available even on the date when the assessment order - AT

6. Reopening of assessment u/s 147 - reasons to believe - roving enquiry - accommodation entries - The exercise undertaken by revenue and the reasons to reopen the...

7. Reopening of assessment u/s 147 - Period of limitation - The audit party is entitled to point out a factual error or omission in the assessment. reopening of the...

8. Reopening of assessment u/s 147 - Reopening on the basis of the audit objections - the reasons for reopening of the assessment are almost identically worded as that of...

9. Whether reopening of assessment u/s 147 is permissible on the basis of audit report - The Assessing Officer did not commit any jurisdictional error in issuing the notices - HC

10. Absence of incriminating material during search precludes additions in completed assessments, as per Supreme Court's ruling in Principal Commissioner of Income-tax,...

11. Validity of reopening of assessment u/s 147 - Addition u/s 56(2)(v) - gifts received by the assessee from the HUF interpreted as the gift from the relatives - reopening...

12. Reopening of assessment - AO seeks to reopen the assessment in respect of income involving a matter which was subject matter of appeal before the CIT (A). The reopening...

13. Validity of reopening of assessment - It is well settled Law that validity of the reassessment proceedings is to be judged with reference to the reasons recorded for...

14. Reopening of assessment u/s 147 - sufficiency or inadequacy of reasons - There is no whisper in the impugned order as regards any failure on the part of petitioner to...

15. Reopening of assessment u/s 147 - High Court cannot form any opinion in respect of such findings to be made. Only endeavour of the High Court is to ensure that, whether...