Home Highlights June 2014 Year 2014 This

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1. Validity of reopening of assessment u/s 147 - Addition u/s 68 - The function of the assessing authority at this stage is to administer the statute and what is required...

2. 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...

3. Validity of Reopening of assessment u/s 147 - When the primary facts necessary for assessment are fully and truly disclosed, the AO is not entitled on change of opinion...

4. Reopening of assessment u/s 147 - Disallowance u/s 14A - If at all he has considered, he has not even passed the assessment order by ignoring the provisions of law, i.e....

5. 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...

6. Validity of reopening assessment u/s 147 - the reopening of assessment made by the AO on irrelevant facts and on a mere reason to suspect cannot survive. We hold that...

7. 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...

8. Reopening of assessment u/s 147 - reply to the audit objections - in fact AO applied his mind to the audit party objection and formed a clear opinion that there is no...

9. Validity of reopening u/s 147 r.w.s. 148 - The Tribunal found that the reasons recorded by the Assessing Officer (AO) for reopening the assessment under section 147/148...

10. Validity of reopening of the assessment u/s 147 - ROI not filled - When the return of income was not filed with the AO then the alleged return of income filed with the...

11. Reopening of assessment u/s 147 - power to review v/s power to reassess - Only material relied upon by the assessing officer, in this case, is the material supplied by...

12. Reopening of assessment u/s 147 - reopening after expiry of four years - Original assessment have been passed under section 143(3) on Dated 14.12.2011 and A.O. recorded...

13. 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...

14. Reopening of assessment u/s 147 - Underlying legal principles is that the independence of the Assessing Officer cannot be interfered or questioned. No person can advice...

15. Reopening of assessment u/s 147 - exemption u/s 11 - As stated in the third proviso to Section 147 of the Act, the A.O. has no jurisdiction to assess or reassess any...