Reopening of assessment u/s 147 - the dropping of the earlier ...

Income Tax Act: Section 147 Assessment Reopened After Initial Drop for Technical Reasons, New Notice Issued March 2017.

June 12, 2021

Case Laws Income Tax HC

Reopening of assessment u/s 147 - the dropping of the earlier proceedings was only on account of technical reasons. It was not after a thorough scrutiny and consideration of the reply of the petitioner. It was withdrawn only for technical reason to pave way for issue of a fresh notice under Section 148 of the Income Tax Act, 1961 on 24.03.2017. The earlier proceedings initiated vide Notice dated 4.12.2015 was not dropped on merits. - Issuance of earlier notice under Section 148 of the Income Tax Act, 1961 did not preclude issue of fresh notice under the same section - HC

View Source

← Previous Next →

Reopening of assessment u/s 147 - the dropping of the earlier ...

Income Tax Act: Section 147 Assessment Reopened After Initial Drop for Technical Reasons, New Notice Issued March 2017.

June 12, 2021

Case Laws Income Tax HC

You may also like:

Reopening of assessment u/s 147 - validity of second show cause notice - The subsequent issuance of the notice cannot be said to be dropping the earlier show cause...

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...

Reopening of assessment u/s 147 - Reopening based on audit objections - reasons to believe - High Court observed that, reopening an assessment beyond four years requires...

Reopening of assessment u/s 147 - Reasons to believe or suspect - huge share transaction - The court held that the reasons provided by the Assessing Officer for...

Formation of belief by the Assessing Officer that income has escaped assessment is the crux of the reopening provision. The reasons recorded must be based on tangible...

Reopening of assessment - Validity of approval granted by the CIT - earlier Revision u/s 263 dropped - Notwithstanding this order passed by the Principal Commissioner of...

Reopening of assessment u/s 147 - reasons to believe - no income under the head income from House Property has been offered by the assessee during the year under...

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...

Validity of reopening of assessment u/s 147 - AO has not even made minimum exercise for ascertaining the unsecured loans accepted during the year, under consideration...

The Assessing Officer (AO) reopened the assessment solely based on the information from a survey conducted by the Sales Tax Department, without independently examining...

Reopening of assessment u/s 147 - ‘reasons to believe’ and ‘reasons to suspect’ - Merely on the basis of suspicion observed that the aforesaid entry might be a bogus...

Reopening of assessment u/s 147 - reasons to believe - The High court observes that all the issues raised in the notice for reopening were indeed subject to discussion...

Validity of reopening of assessment u/s 147 - CIRP proceedings - The proceedings under the Insolvency and Bankruptcy Code, 2016 (IBC) cannot be pressed into service to...

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...

Validity of reopening an assessment and the legality of issuing a new Show Cause Notice u/s 148-A(b) after the conclusion of initial reassessment proceedings. The key...

Quick Updates: