Reassessment u/s 147 - bogus purchases - When the investigation ...

Case Laws Income Tax

June 13, 2019

Reassessment u/s 147 - bogus purchases - When the investigation wing has received specific information from another gov. Dept. that assessee has indulged in hawala transaction by availing bogus purchases bills to inflate its purchases, it cannot be said that the AO had no information or that there was no fresh material for reopening of the assessment - reopening sustained

View Source

← Previous Next →

Reassessment u/s 147 - bogus purchases - When the investigation ...

Case Laws Income Tax

June 13, 2019

You may also like:

Reassessment proceedings after information received from Director of Investigation regarding bogus/accommodation entries - HC

Reopening of assessment u/s 147 - - reopening based on report of the Investigation Wing - Assessing officer can rely on the report of DIT, Investigation Wing but at the...

Reopening of assessment u/s 147 - Bogus purchases - In view of failure on the part of the assessee in substantiating the purchases from those two parties, the Assessing...

Reopening of assessment u/s 147 - reasons were recorded on receipt of information from Investigation Wing - Apart from this information, which has been taken as gospel...

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...

Reopening of assessment u/s 147 - Reopening based on information of investigation wing - Bogus purchases - two well known entry operators of the country provided bogus...

Reopening of assessment u/s 147 was invalid as Assessing Officer (AO) failed to record that assessee did not disclose fully and truly all material facts necessary for...

Reassessment u/s 147 - the suggestion of DDIT(Inv.) does not confer power to assume jurisdiction upon the AO to initiate reassessment proceedings - notice u/s 148 was...

Addition of bogus purchases - reopening u/s 147 - if the source of purchases are from the books and through account payee cheque, then how such purchases can be treated...

Re-opening assessment u/s 147 by issuing notice u/s 148 - disallowance on account of bogus purchase - As observed earlier not only there existed new information with the...

Reopening of assessment u/s 147 - bogus purchases - not only there existed new information with the AO from the credible sources, but also he had applied his mind and...

Reopening of assessment u/s 147 - The assessee has filed her return of income. AO has not made any analysis on what the assessee has claimed, how prima-facie the claim...

Reassessment u/s. 147 or 153C - the information of alleged accommodation entries was passed on to the AO of the assessee by the investigation wing - no material...

Estimation of income - Bogus purchases of diamonds - There is evidence received by the Revenue that the entire purchases made by the assessee is bogus i.e., the assessee...

The crux of the matter revolves around the reopening of assessment u/s 147 of the Act and the addition made u/s 68 treating the share application received as a...

Quick Updates: