Home Highlights May 2016 Year 2016 This

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1. Reopening of assessment u/s 147 - Merely creating a doubt of the transaction does not suffice the Assessing Officer to reopen the case u/s 148 - AO has to give proper...

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

3. Validity of reopening u/s 147 r.w.s. 148 - The Tribunal found that the reasons recorded by the Assessing Officer (AO) for reopening the assessment under section 147/148...

4. 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...

5. Reopening of assessment u/s 147 - Mere intimation received from any authority cannot lead to immediate presumption but it needs to be verified by the AO and to apply his...

6. Reassessment u/s 147 - fictitious F&O loss by manipulative client code modification - return was originally processed u/s 143(1) and notice u/s 148 was issued within...

7. Validity of Assessment u/s 153C - Reopening of assessment u/s 147 - In view of such glaring fact covering huge racket of providing accommodation entries of issuing bogus...

8. Reopening of assessment u/s 147 - ALV estimation - We are unable to see application of mind by the AO of the materials available before him. The AO has not recorded any...

9. Penalty u/s 271(1)(c) - Reopening of assessment u/s 147 - addition of unexplained investment in property u/s 69 - firstly the AO who records the reasons and issues a...

10. Reopening of assessment u/s 147 - material which was examined and qua which opinion was rendered by the AO while passing the draft assessment orders - The failure to...

11. 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...

12. Reopening of assessment u/s 147 - Addl. CIT who has given approval for such reopening has simply mentioned that “ yes, I am satisfied that this is a fit case for issue...

13. Reassessment order u/s 147 - the AO does not enjoy the power of review. Therefore in the present case it is clear that the action of the present AO tantamount to review...

14. Review petition - Reopening of assessment u/s 147 - petitioner/assessee was a “non-filer” - cash deposit - It cannot be said that the notice under Section 148 of the Act...

15. Reopening of assessment - AO was not aware about the death of the assessee at the relevant time when he issued notice under section 148 of the Act. Therefore, notice...