Home Highlights July 2014 Year 2014 This

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1. Reopening of assessment - it is a settled law that an assessment could not be reopened only on the basis of difference in TDS certificate and receipts shown in the P&L account - AT

2. Challenging reopening of assessment - notice u/s 148 - the basis of the order is completely different from the reasons recorded for reopening the assessment which is...

3. Reopening of assessment u/s 147/148 - failure to issue notice u/s 143(2) - reopening of assessment is not valid as the Income Tax Department has power to conduct the...

4. Reopening of assessment u/s 147 - ‘reasons to believe’ and ‘reasons to suspect’ - Merely on the basis of suspicion observed that the aforesaid entry might be a bogus...

5. Reopening of assessment - special audit report as basis for reopening - though the orders of assessment passed u/s 143(3) have sanctity attached, it does not grant...

6. Credit for TDS - Income offered to tax on receipt basis - the assessee is eligible to claim credit for TDS in assessment year 2016-17, when such professional income has...

7. Reopening of assessment u/s 147 - Bad Debts - Petitioner clearly showed that the Petitioner had in response to specific queries raised during the assessment proceedings,...

8. Validity of Reopening of assessment u/s 147 - Reopening on the basis of the report of the Centralized Audit Unit, CAG - Different Apex Court pointed out that the audit...

9. Reopening of assessment u/s 147 - AO has reasons to believe that such payments which were not considered during the original assessment escaped assessment and therefore,...

10. Reopening of assessment u/s 147 - eligibility of reasons to believe - the foundation on which the AO based his belief that income chargeable to tax had escaped...

11. Reopening of assessment - receipt of accomadation enteries - without forming a prima facie opinion, on the basis of such material that income has escaped assessment the...

12. Reopening of assessment u/s 147 - looking to the scope of section 147 as also sections 148 to 152 of the Act, even if scrutiny assessment has been undertaken, if...

13. 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...

14. Reopening of assessment - expenditure has wrongly been allowed - reopening of the assessment completed under section 143(1) by issue of a notice under section 148 was valid - HC

15. Reopening of assessment u/s 147 - AO gets jurisdiction to reopen the assessment only after he records the reasons for reopening and thereafter, issues notice u/s 148...