Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights July 2014 Year 2014 This

Reopening of assessment u/s 147 - AO found depreciation to be ...


Section 147 Reassessment Upheld: Excessive Depreciation Claim Found in Tax Audit Report Discrepancy by Assessing Officer.

July 14, 2014

Case Laws     Income Tax     AT

Reopening of assessment u/s 147 - AO found depreciation to be excessive on the basis of tax audit report, the eligible depreciation certified by the tax auditor differed from the amount that was actually allowed in the assessment order - reassessment upheld - AT

View Source

 


 

You may also like:

  1. Reopening of assessment u/s 147 or assessment u/s 153C - reassessment was made based on the materials found in the course of search conducted on third party - The...

  2. Validity of assessment made u/s 147 instead of u/s. 153C - Addition as unexplained cash credit u/s. 68 - Upon examination, the ITAT Delhi found that the seized material,...

  3. Reopening of assessment u/s 147 - Depreciation u/s 32 on all the assets @ 100% of the assets acquired during the year - The assessee has not admittedly produced the...

  4. The High Court dismissed the writ petition challenging the notice issued u/s 65 of the Maharashtra Goods and Services Tax Act, 2017 for conducting an audit for the...

  5. The Delhi High Court examined the validity of reassessment proceedings u/s 147 after a four-year lapse. The court emphasized the requirement of "reasons to believe" for...

  6. Interplay between Sections 153C and 147 of the Income Tax Act, specifically whether recourse to Section 147 is available when the Assessing Officer (AO) is empowered to...

  7. 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...

  8. 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)...

  9. 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 -...

  10. Disallowance of interest and financial expenses was not justified as the appellant paid interest and financial expenses to State Bank of India, Overseas Branch,...

  11. Reopening of assessment u/s 147 - reassessment proceeding was triggered based on a Tax Evasion Petition (TEP) - Bald assertions in the TEP that the petitioner had...

  12. Reopening of assessment u/s 147 - It is settled law that the opinion of the Internal Audit party of the Income Tax Department cannot be recorded as information within...

  13. The High Court held that the jurisdictional facts necessary to invoke Section 147 for reassessment were absent. The reassessment was initiated after the four-year...

  14. Reopening of assessment u/s 147 - Reasons to belive - change of opinion - there was no new material which had come to the notice of the Assessing Officer and the entire...

  15. 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...

 

Quick Updates:Latest Updates