Reopening of assessment u/s 147 - excess claim of Deduction u/s ...

Revenue Claims Petitioner Overstated Deductions u/s 10B; Justifies Reopening Assessment u/s 148.

June 3, 2021

Case Laws Income Tax HC

Reopening of assessment u/s 147 - excess claim of Deduction u/s 10B - The case of the respondent (Revenue) is that the petitioner was in the habit of making an excess claim under Section 10B of the IT Act, 1961 and this fact came to be knowledge of the Department only when a survey was conducted during March 2010. It is submitted that, this information was not available earlier when the assessment orders were passed both under Section 143(1). - the Income Tax Department would be justified in reopening the assessment u/s 148 - HC

View Source

← Previous Next →

Reopening of assessment u/s 147 - excess claim of Deduction u/s ...

Revenue Claims Petitioner Overstated Deductions u/s 10B; Justifies Reopening Assessment u/s 148.

June 3, 2021

Case Laws Income Tax HC

You may also like:

Reopening of assessment u/s 147 was challenged on the ground of mere change of opinion. The assessee had filed return claiming deduction u/s 80IC and furnished all...

Reopening of assessment u/s 147/148 - failure to issue notice u/s 143(2) - reopening of assessment is not valid as the Income Tax Department has power to conduct the...

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 quashed the reopening notice issued by the Assessing Officer u/s 148 for reassessment beyond the period of four years. The assessee had filed returns...

Reopening of assessment u/s 147 was challenged. The Assessing Officer (AO) had disallowed 20% of total sundry creditors in the regular assessment u/s 143(3). The AO...

Reopening of assessment u/s 147 - AO has reasons to believe that such payments which were not considered during the original assessment escaped assessment and therefore,...

Absence of incriminating material during search precludes additions in completed assessments, as per Supreme Court's ruling in Principal Commissioner of Income-tax,...

Reopening of assessment u/s 147 - eligibility of reasons to believe - the foundation on which the AO based his belief that income chargeable to tax had escaped...

Provisions and requirements for reopening an assessment u/s 147 of the Income Tax Act, 1961, as amended. It emphasizes that mere 'change of opinion' without any new...

Reopening of assessment u/s 147 - reason to believe - there was tangible material before the AO to reopen the concluded assessment as the assessee is claiming huge...

Reopening of assessment u/s 147 - reasons to believe - roving enquiry - accommodation entries - The exercise undertaken by revenue and the reasons to reopen the...

Reopening of assessment u/s 148 - the reopening of assessment on the basis of receipt shown in the TDS certificate is not sustainable in law - HC

Reopening of assessment - expenditure has wrongly been allowed - reopening of the assessment completed under section 143(1) by issue of a notice under section 148 was valid - HC

Challenging reopening of assessment - notice u/s 148 - the basis of the order is completely different from the reasons recorded for reopening the assessment which is...

Reopening of assessment u/s 147 - Notice after the expiry of period of four years - Admissibility of deduction u/s 80I - The issue was already considered by the AO - In...

Quick Updates: