Validity of reopening of assessment u/s 147 - if the assessing ...

Case Laws Income Tax

August 21, 2021

Validity of reopening of assessment u/s 147 - if the assessing officer has cause or justification to know or suppose that income has escaped assessment, it can be said that he has reason to believe that an income has escaped assessment. In such a case, the High Court would not be clothed with the jurisdiction to examine the reasons which weighed in the mind of the assessing officer to issue the notice - this is not the appropriate stage for the purpose of examining the reasons - HC

View Source

← Previous Next →

Validity of reopening of assessment u/s 147 - if the assessing ...

Case Laws Income Tax

August 21, 2021

You may also like:

Reopening of assessment u/s 147 - Mere production of books of account and the details by the assessee are one aspect of the matter and even with reference to such books...

Reopening of assessment u/s 147 - Disallowance u/s 14A - If at all he has considered, he has not even passed the assessment order by ignoring the provisions of law, i.e....

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 u/s 147 - Once a query has been raised by Assessing Officer through the assessment proceeding and the assessee has responded to that query, it...

Reopening of assessment u/s 147 - Assessing Officer to usurp the jurisdiction to reopen the assessment - The first Assessing Officer has made the reassessment after...

Reopening of the assessment u/s 147/148 - The "reason to believe" would mean cause or justification. If the Assessing Officer has cause or justification to know or...

Reopening of assessment u/ 147 - in absence of primary facts with regard to the sources of investment, the assessing officer has rightly recorded that the assessee has...

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...

The High Court held that reopening of assessment u/s 147 was not valid where the Assessing Officer had previously examined the claim for deduction of foreign exchange...

Validity of reopening of assessment u/s 147 - This Court cannot go into the factual details now furnished by the petitioner at the time of original assessment nor made a...

Validity of reopening of assessment u/s 147 - Addition u/s 68 - The function of the assessing authority at this stage is to administer the statute and what is required...

Reopening of assessment u/s 147 - When the primary facts necessary for assessment are fully and truly disclosed, the Assessing Officer is not entitled to a change of...

Reopening of assessment u/s 147 - change of opinion - when the primary facts necessary for assessment are fully and truly disclosed, the Assessing Officer is not...

Reopening of assessment u/s 147 - Unexplained cash credit - penny stock purchases - AO was aware of the fact that the script of Shreenath was allegedly a penny stock...

Reopening of assessment u/s 147 - The requirement of section 147 of the Act is the Assessing Officer has reason to believe that income chargeable to tax has escaped...

Quick Updates: