Reopening of assessment - belief of escapement of income - ...

Case Laws Income Tax

May 27, 2018

Reopening of assessment - belief of escapement of income - reopening merely on the information received from the Investigation Wing of the Department, i.e., just on borrowed satisfaction - reassessment cancelled.

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Reopening of assessment - belief of escapement of income - ...

Case Laws Income Tax

May 27, 2018

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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...

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The High Court addressed the issue of reopening assessment u/s 147 of the Income Tax Act. The case involved the alleged absence of a "reason to believe" and a "live...

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Reopening of assessment u/s 147 justified due to tangible material available with Assessing Officer (AO) to form reasonable belief regarding escapement of income....

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