Reopening of Assessment – Claim of depreciation was not ...

Tax Assessments Can Be Reopened Without Prior Depreciation Claim Consideration; No Section 151 Sanction Needed.

March 13, 2014

Case Laws Income Tax HC

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 be permissible - HC

View Source

← Previous Next →

Reopening of Assessment – Claim of depreciation was not ...

Tax Assessments Can Be Reopened Without Prior Depreciation Claim Consideration; No Section 151 Sanction Needed.

March 13, 2014

Case Laws Income Tax HC

You may also like:

HC quashed reassessment notice under s.148 concerning lease payments, foreign currency transactions, and goodwill depreciation. Court found no valid grounds for...

Reopening of assessment - applicability of time limitation - Exemption from levy of Entry Tax - The reopening of the assessment for the year prior to 2012-13 is beyond...

Assessee, a company paying taxes at fixed rate, filed claim for prior period depreciation. ITAT held allowance of prior period depreciation claim was tax neutral...

Reopening of assessment u/s 147 - reason to believe - there was tangible material before the AO to reopen the concluded assessment as the assessee is claiming huge...

The Assessing Officer (AO) reopened the assessment solely based on the information from a survey conducted by the Sales Tax Department, without independently examining...

Penalty levied u/s 274 read with Section 270A - assessee computed tax on disallowed depreciation amount at maximum marginal rate and levied 200% penalty on payable tax -...

Validity of reopening of assessment u/s 147 - AO has not even made minimum exercise for ascertaining the unsecured loans accepted during the year, under consideration...

Claim of higher depreciation of ‘Bizerba weighing scales’ - A photocopy (xerox) machine can also be attached to a computer, however, that does not entitle it for...

The HC upheld the reopening of assessment under s.147 regarding two issues: (1) difference in rental figures between profit and loss account and AIR, and (2)...

Refund of service tax - Unjust enrichment - Period of limitation - Tax paid on self assessment basis - Claim of refund without challenging the assessment, to claim the...

Reopening of assessment u/s 147 - assessment after 4 years - reason to suspect OR reason to believe - Reopening of assessment which is already concluded under Section...

Provisions and requirements for reopening an assessment u/s 147 of the Income Tax Act, 1961, as amended. It emphasizes that mere 'change of opinion' without any new...

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...

Reopening of assessment u/s 147 was challenged. The Assessing Officer (AO) had disallowed 20% of total sundry creditors in the regular assessment u/s 143(3). The AO...

Reopening of assessment u/s 147 - Unexplained loan - There were no justification for the A.O. to record non-existing, incorrect and wrong facts in the reasons for...

Quick Updates: