Reopening of assessment u/s 147 - There is a difference between ...

Section 147: Reopening Assessments vs. Reviewing Powers-Balancing Authority Limits and Revenue Interests.

August 27, 2014

Case Laws Income Tax AT

Reopening of assessment u/s 147 - There is a difference between the power to review and power to reassess - Placing such a restriction on the power of assessment of the assessing authority is contrary to the scheme of the Act, besides would operate to cause prejudice to the Revenue - AT

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Reopening of assessment u/s 147 - There is a difference between ...

Section 147: Reopening Assessments vs. Reviewing Powers-Balancing Authority Limits and Revenue Interests.

August 27, 2014

Case Laws Income Tax AT

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The High Court held that the Assessing Officer cannot reopen the assessment u/s 147 merely based on a change of opinion. The assessee had fully and truly disclosed all...

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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...

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Reopening of assessment u/s 147 - reason to believe - Assessing Officer has no power to review; he has the power to re-assess. But re-assessment has to be based on...

Reopening of assessment u/s 147 - Bypassing the option to initiate scrutiny assessment u/s 143(3) - The assessment proceedings would cease to be pending either by...

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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...

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...

Reopening of assessment u/s 147 - This being the scope of Section 147 for reopening of assessment, this Court do not find any acceptable reason for the purpose of...

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Absence of incriminating material during search precludes additions in completed assessments, as per Supreme Court's ruling in Principal Commissioner of Income-tax,...

Reopening of assessment u/s 147 - reasons to believe - bogus transaction - It has been held that even in the reasons recorded when there is no allegation that there was...

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