Reassessment - if at all there is non application of mind on the ...

Case Laws Income Tax

June 25, 2014

Reassessment - if at all there is non application of mind on the part of the AO on the earlier occasion the assessee should not be made to suffer in the form of initiation of proceedings u/s 148 - AT

View Source

← Previous Next →

Reassessment - if at all there is non application of mind on the ...

Case Laws Income Tax

June 25, 2014

You may also like:

AO failed to conduct proper inquiries regarding genuineness of loan transactions for property acquisition. Bank statements revealed assessee lacked funds, payments made...

Reopening of assessment u/s 147 - unexplained share application money - non independent application of mind by AO - In the present case also since the AO acted upon the...

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

Reopening of assessment u/s 147 - bogus accommodation entries receipts - What perplexes us as much as the assessee was perplexed is how can a company provide bogus entry...

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...

Reopening of assessment u/s 147 - ALV estimation - We are unable to see application of mind by the AO of the materials available before him. The AO has not recorded any...

Reopening of assessment u/s 147 - valid approval u/s 151 - The approving authority-the PCIT, has stated that he agrees with the comments of the A.O., which were annexed...

The assessee claimed exemption from long-term capital gains tax on the sale of agricultural land situated beyond the prescribed distance from municipal limits. The...

The ITAT Ahmedabad considered the validity of reassessment proceedings based on borrowed satisfaction by the AO. The AO alleged non-independent application of mind by...

Unexplained Investment u/s 69 as taxed u/s 115BBE - It was not the case of the AO that cash withdrawal from bank account on earlier occasion had been spent by the...

Re-assessment u/ss 147 / 148 - no failure on the part of the Assessee to disclose fully and truly the relevant material resulting in such escapement of income in the...

Alleged fraudulent transactions and non-genuine losses claimed by the assessee in currency option trades on the United Stock Exchange (USE). The key points are: The...

The ITAT Kolkata examined the validity of reassessment proceedings based on "reasons to believe" u/s 147. The AO's reasons lacked independent application of mind, being...

Penalty u/s 271(1)(c) - Non-consideration of reply filed by the assessee - the order levying penalty suffers from violation of principle of natural justice and...

The High Court held that the Principal Commissioner of Income Tax (PCIT) lacked jurisdiction to pass an order u/s 263 of the Income Tax Act in this case. The Assessing...

Quick Updates: