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Income Tax - Highlights / Catch Notes

Home Highlights March 2014 Year 2014 This

Validity of reassessment u/s 147 of the Act – Income escapement ...


Reassessment u/s 147 Upheld: Income Escapement and Construction Costs Ruling Favors Revenue Authorities.

March 25, 2014

Case Laws     Income Tax     AT

Validity of reassessment u/s 147 of the Act – Income escapement – Computation of cost of construction - inclusion of cost towards common area - excess claim of expenditure - decided in favor of revenue - AT

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  10. Validity of Reopening of assessment u/s 147 - eligibility of reasons to believe - initiation of reassessment proceedings u/s.147 of the Act, issuance of notice u/s.147...

  11. Reassessment u/s 147 - The full and true disclosure of the assessee is not in doubt - The ‘recording of reasons’ is mechanical and robotic and the mandate u/s 147 has...

  12. The HC upheld the Appellate Tribunal's decision that reassessment under Section 147 was invalid. Although Explanation 1 to Section 147 states that mere production of...

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