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Income Tax - Highlights / Catch Notes

Home Highlights November 2014 Year 2014 This

Reopening of assessment u/s 148 – assessee disclosed all the ...

Case Laws     Income Tax

November 3, 2014

Reopening of assessment u/s 148 – assessee disclosed all the material facts in the return which was under scrutiny u/s 143(3) - if the AO had doubt about the validity of the claim in law, during scrutiny the same could have been examined - notice beyond 4 years quashed - HC

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  2. 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...

  3. Assessment completed u/s 143(3) accepting assessee's return, which included export incentive and foreign exchange fluctuation as other business income. Subsequently,...

  4. Reopening of assessment u/s 147 was challenged on the ground of mere change of opinion. The assessee had filed return claiming deduction u/s 80IC and furnished all...

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  8. Validity of reopening of assessment u/s 147 - In the instant case the primary facts were already disclosed in the Notes to Accounts filed along with the balance-sheet...

  9. Reopening u/s 148 - accommodation entry - recording of reasons to belief - AO did not mention any material facts in the reasons such as original assessment u/s 143(3),...

  10. Validity of reopening assessment u/s 147 challenged. Profit earned by trading in shares treated as unexplained credit u/s 68. Held: Petitioner disclosed all material...

  11. The Appellate Tribunal considered the validity of the reopening of assessment u/s 147 beyond four years. The assessment was based on notes to accounts for AY 2009-10....

  12. Reopening of assessment u/s 147 r.w.s. 148 - We reject the argument of AR that even in the case where there is no assessment made by the AO or the return is processed...

  13. The High Court held that the reopening proceedings were invalid as the Assessing Officer (AO) lacked "reasons to believe" supported by fresh tangible material. The AO's...

  14. Reopening of assessment u/s 147 - When the A.O. admits in the notice under section 142(1) Dated 20.10.2014 that assessee filed return of income under section 148 of the...

  15. Reopening of assessment u/s 147 - The writ-applicant has claimed deduction under Section 35(1)(ii) of the Act and not under Section 80GGA of the Act. This fact is also...

 

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