Reassessment u/s 147 - assessee's claim of deduction u/s 10B was ...

Case Laws Income Tax

April 22, 2019

Reassessment u/s 147 - assessee's claim of deduction u/s 10B was scrutinized in original proceedings - any attempt on part of AO to reexamine the claim, without any material would be based on change of opinion - clearly impermissible

View Source

← Previous Next →

Reassessment u/s 147 - assessee's claim of deduction u/s 10B was ...

Case Laws Income Tax

April 22, 2019

You may also like:

Reassessment proceeding under Section 147 was made to form change of opinion and therefore, it would clearly amount to reviewing the original order of assessment u/s 147...

Reopening of assessment u/s 147 - Initiation of reassessment proceedings, u/s.148 of the Act and issued notice to the assessee was based on valid reason on the strength...

The assessment u/s 143(3) was completed, disallowing the deduction u/s 10B on grounds that processing iron ore does not constitute manufacturing within Section 10B's...

The High Court held that the jurisdictional facts necessary to invoke Section 147 for reassessment were absent. The reassessment was initiated after the four-year...

Whether a new claim can be made in the reassessment proceedings – In the reassessment proceedings the assessee was not entitled to claim deductions under Section 80J - HC

Validity of reopening an assessment beyond four years from the end of the relevant assessment year, denial of deduction u/s 54F, and the addition on the ground of owning...

Issue of reassessment u/s 263, where the Commissioner of Income Tax (CIT) upheld the reassessment as erroneous and prejudicial to the Revenue's interest for verification...

Deduction u/s 10B denied - alternative claim of deduction u/s 10A was not entertained by the CIT(A) primarily for the reason that the assessee had not claimed the same...

Claim for deduction u/s 10B - 100% EOU - Deduction was neither claimed in the original ITR or revised ITR but claimed first time during the assessment proceedings -...

Reopening of assessment u/s 147 - The High Court dismissed the appeal filed by the revenue, affirming the decision of the Income Tax Appellate Tribunal (ITAT) that...

Reopening of assessment u/s 147 - claim of deduction u/s 36(1)(viia) - provision for Non-Performing Advances as per the RBI Regulations - The court observed that the...

Section 147/148 proceedings can only be initiated based on the original reasons recorded for forming the opinion of escapement of income. The Assessing Officer cannot...

Exemption u/s 11 was not claimed in original return due to auditor's mistake in Form No. 10B. Assessee rectified mistake by filing revised Form No. 10B. Statutory claim...

The assessment officer (AO) initiated reassessment proceedings u/s 147 of the Act, citing Section 147(b) as the basis for approval, which is a non-existent provision....

Reopening of assessment u/s 147 - ‘loan given” was believed to be undisclosed income of assessee - penalty u/s 271D and 271E - the “original-conclusion” was not faulty...

Quick Updates: