Reopening of assessment - mere information conveyed by DIT does ...

Case Laws Income Tax

February 8, 2016

Reopening of assessment - mere information conveyed by DIT does not constitute to be a tangible material to re-assess the assessee company without any independent enquiry or application of mind - AT

View Source

← Previous Next →

Reopening of assessment - mere information conveyed by DIT does ...

Case Laws Income Tax

February 8, 2016

You may also like:

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...

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...

Validity of reopening of assessment u/s 147 - beyond 4 years but within 6 years - Report of the investigation wing might constitute tangible material. The decision to...

Validity of reopening of assessment u/s 147 - Reason to believe - The court scrutinized the purported tangible material for reopening, which consisted of audit...

Reopening of assessment u/s 147 - the notice u/s 148 on the basis of “on verification of records” - the AO has power to reopen the assessment, provided there is...

The High Court held that the reassessment proceedings initiated by the revenue authorities were invalid as there was no new tangible material or information suggesting...

The crux of the matter revolves around the validity of reassessment proceedings initiated by the Assessing Officer (AO). The critical issue is whether there existed any...

Provisions and requirements for reopening an assessment u/s 147 of the Income Tax Act, 1961, as amended. It emphasizes that mere 'change of opinion' without any new...

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,...

Reopening of assessment u/s 147 was based on reasons to believe the difference between total cash sales and cash sales reflected in books. Held: Reopening was made only...

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...

Reopening of assessment u/s 147 - reason to believe - there was tangible material before the AO to reopen the concluded assessment as the assessee is claiming huge...

Reopening of assessment u/s 147 - Reasons to believe - It is not the case of the revenue that, subsequently i.e. after the order of scrutiny assessment, the assessing...

Reopening of assessment u/s 147 - Mere production of books of account and the details by the assessee are one aspect of the matter and even with reference to such books...

Reopening of assessment u/s 147 - there is prima facie tangible material to form an opinion that the income has escaped assessment and the assessee failed to disclose...

Quick Updates: