Reassessment - AO cannot open the accounts which have been drawn ...

Case Laws Income Tax

February 24, 2014

Reassessment - AO cannot open the accounts which have been drawn in accordance with the Companies Act, 1956, certified by the chartered accountant, accepted by the general body of the company, and placed before the Registrar to which he has not taken any objection - HC

View Source

← Previous Next →

Reassessment - AO cannot open the accounts which have been drawn ...

Case Laws Income Tax

February 24, 2014

You may also like:

The assessee dealt with a penny stock, and the Assessing Officer (AO) failed to conduct proper inquiry during reassessment proceedings. The Principal Commissioner of...

Interpretation of statute - whether "Certified Copy" prescribed for preferring an appeal could substitute "Certified Free Copy" provided u/r 50? Held: Issue dealt with...

Issue of reassessment u/s 263, where the Commissioner of Income Tax (CIT) upheld the reassessment as erroneous and prejudicial to the Revenue's interest for verification...

Reassessment u/s 147 - level of enquiry at stage of re-opening and in reopening proceedings - In the re-assessment proceedings the AO was expected to undertake a...

MAT computation - Book profit u/s 115JB - once the accounts of the company have been scrutinized and certified by statutory auditors and approved by the Company in...

Foreign Exchange Management (Deposit) Regulations, 2016 - Opening of NRO Accounts by Long Term Visa (LTV) holders, changes related to Special Non-Resident Rupee (SNRR)...

Addition on account of provision for Solid Waste Dispsal Expenses - contingent liability or accrued liability - The accounting method followed by the assessee was in...

The Assessing Officer (AO) initiated reassessment proceedings u/s 147/148 against the assessee based on documents seized from the premises of J.K. Jain during a CBI...

Addition made u/s 153A on account of undisclosed foreign bank account and interest income thereon - assessee confronted with client profiles from HSBC Bank showing...

Service of order - Since the petitioner’s right to pursue an appeal cannot be curtailed solely on account of non-receipt of an order or loss of an order, if law...

The ITAT, an Appellate Tribunal, ruled on unexplained cash deposits in bank accounts opened by a CA misusing KYC documents. The CA, acting fraudulently, used the...

Special audit u/s 142(2A) - satisfaction - The question of complexity of accounts has to be judged applying the yardstick or test; whether the accounts would be complex...

Addition on account of difference in TDS receipts - AO directed to re-compute the income of the assessee in accordance with cash system of accounting, which is the...

CIT invoked revisionary jurisdiction u/s 263 alleging AO did not examine provision for subcontracting expenses and refund claim during reassessment proceedings. Assessee...

Cenvat Credit - Retrospective amendment in Rule 16 is aimed at facilitating ‘wire drawing units’ - The sum paid by the wire drawing unit in such cases will be treated as...

Quick Updates: