Re-assessment - when reasons are recorded for bringing to tax ...

Assessing Officer Cannot Tax Other Income if Specific Income is Not Assessed in Reassessment Order.

May 29, 2015

Case Laws Income Tax AT

Re-assessment - when reasons are recorded for bringing to tax ‘X’ income and no assessment is made on the ‘X’ income, the AO does not possess the jurisdiction to tax any other income in the reassessment order - AT

View Source

← Previous Next →

Re-assessment - when reasons are recorded for bringing to tax ...

Assessing Officer Cannot Tax Other Income if Specific Income is Not Assessed in Reassessment Order.

May 29, 2015

Case Laws Income Tax AT

You may also like:

Penalty u/s 271(1)(c) - The Appellate Tribunal observed that the appellant, during reassessment proceedings, had filed their return of income but failed to provide...

The High Court quashed the reassessment proceedings initiated by the Assessing Officer u/s 148 of the Income Tax Act, holding it to be a case of "change of opinion" and...

The Income Tax Appellate Tribunal held that the Assessing Officer cannot arbitrarily reduce agricultural income and add it as income from other sources based on mere...

Impugned order set aside, matter remitted back to Assessing Officer for fresh consideration. Assessing Officer rejected claim based on Tax Audit Report not being duly...

AO has passed the impugned order under section 220(2) without giving effect to the order of the CIT(A). It appears that the Assessing Officer has deliberately not passed...

Reopening of assessment u/s 147 - Assessing Officer to usurp the jurisdiction to reopen the assessment - The first Assessing Officer has made the reassessment after...

Validity of grant of permission to the petitioner’s assessing authority, to re-assess the petitioner - The HC observed that, since, the assessing officer failed to make...

The ITAT held that where the assessee entered into a unilateral Advance Pricing Agreement (APA) with the Central Board of Direct Taxes (CBDT) and complied with its...

The Appellate Tribunal examined the validity of the reassessment notice issued u/s 148 and the consequent order passed u/s 147 regarding the addition made by the...

Revision u/s 263 - merger of the order - the entire issue of limited scrutiny, reasons for selection, the Bank accounts in questions were before the ld. Pr. CIT. On this...

Formation of belief by the Assessing Officer that income has escaped assessment is the crux of the reopening provision. The reasons recorded must be based on tangible...

Revision u/s 263 - bogus purchase - proof of nexus between the purchases and sales - once submission/reply filed by the assessee, pursuant to enquiry by the Assessing...

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 -...

Validity of order u/s 144C - Failure to pass a draft assessment order u/s 144C(1) - This Court is of the view that till the Income Tax Department ensures that the...

Assessment u/s 147 versus 153C - choice of correct course of assessment. The assessee's name featured in the list of beneficiaries of accommodation entries by way of...

Quick Updates: