Home Highlights August 2012 Year 2012 This

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1. Conversion of limited scrutiny into complete scrutiny assessment - AO has not referred to any credible or reliable material or information to form the view that there...

2. Demand of additional tax on simple processing of income - Applicability of provision of Section 143(1A) where assessment may have been completed u/s 143(3) - The High...

3. Conversion of complete scrutiny from the limited scrutiny - In the present case, no administrative approval has been obtained from the CIT. The AO is also required to...

4. Remuneration paid to the Managing Director - Limited scrutiny assessment - AO did not make any discussion on the deductibility or otherwise of losses and examined the...

5. Conversion of limited scrutiny into complete scrutiny - As per the CBDT instructions, only upon conversion of such case to complete scrutiny after following the...

6. Scrutiny through CASS - converting limited scrutiny to complete scrutiny - as per the CBDT, the AO cannot travel beyond the issues for which the case was selected and in...

7. Conversion of limited scrutiny into complete scrutiny assessment u/s 143 without obtaining necessary approval from the competent authority - such action of AO is against...

8. 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...

9. 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...

10. Period of limitation u/s 153 - Assessment in search cases - To allow the AO to conduct proper scrutiny and consider or align all relevant information gathered in case of...

11. Validity of reopening of assessment u/s 147 - In the instant case the primary facts were already disclosed in the Notes to Accounts filed along with the balance-sheet...

12. Disallowance of an expenditure incurred representing the interest paid - case was selected for limited scrutiny on different issues - A.O. has not made any...

13. Validity of assessment passed u/s 153A pursuant to search and seizure - The High Court has observed and held that, the assessee’s assessment for the relevant year stood...

14. In cases under ‘Limited Scrutiny’, the scrutiny assessment proceedings would initially be confined only to issues under ‘Limited Scrutiny’ and questionnaires, enquiry,...

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