Reopening of assessment u/s 147 - Bogus accommodation entries - ...

Taxpayer Wins: Reassessment u/s 147 Overturned Due to Baseless Allegations of Bogus Entries and Illegal Conspiracy.

January 20, 2020

Case Laws Income Tax AT

Reopening of assessment u/s 147 - Bogus accommodation entries - The allegation of attributing illegal conspiracy/activities etc. is hurled without any basis and therefore, on merits as well as on the legal issue the assessee succeeds - assessee succeeds in respect of the legal issues - reassessment order quashed

View Source

← Previous Next →

Reopening of assessment u/s 147 - Bogus accommodation entries - ...

Taxpayer Wins: Reassessment u/s 147 Overturned Due to Baseless Allegations of Bogus Entries and Illegal Conspiracy.

January 20, 2020

Case Laws Income Tax AT

You may also like:

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...

Reassessment of assessment u/s 147 - Reason to believe - unexplained credit - In the reasons recorded, it is nowhere mentioned as to who had given bogus...

Validity of order passed u/ss 154/147/143(3) - Disallowance of prior period expenses - Relevant previous year being first year of assessee's business, no prior period...

Validity of Reopening of assessment u/s 147 - eligibility of reasons to believe - initiation of reassessment proceedings u/s.147 of the Act, issuance of notice u/s.147...

Validity of the assessment order passed u/s 147 r.w.s. 143(3) - post search assessment - in the case on hand the pending reassessment proceedings u/s 147 got abated by...

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 or assessment u/s 153C - reassessment was made based on the materials found in the course of search conducted on third party - The...

This case deals with the validity of a declaration under the Voluntary Compliance Encouragement Scheme (VCES) for service tax dues. The taxpayer was issued a show cause...

Reopening of assessment u/s 147 - reassessment proceeding was triggered based on a Tax Evasion Petition (TEP) - Bald assertions in the TEP that the petitioner had...

Reopening of assessment u/s 147 - Earlier, ITAT remanded the matter back requesting the AO to provide reasons for initiating reassessment proceedings. - AO must have...

The High Court held that the reassessment proceedings initiated by the Revenue were invalid due to the absence of any failure on the part of the assessee to disclose...

Reassessment u/s 147 - approval u/s 151 - Recommended for approval u/s 147 of the Act/Yes. I am satisfied - both the approving authorities have given approval in a...

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

Reassessment u/s. 147 - non availability of file containing reasons to believe - there is no material brought to our notice that reasons were recorded before issue of...

Quick Updates: