Home Highlights December 2012 Year 2012 This

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1. Reopening of assessment u/s 147 - double deduction u/s 80IB - In the reasons for re-opening, there is not even a whisper as to what was not disclosed. In our view, this...

2. Reopening of assessment - reasons to believe - The reasons as recorded at the highest, can only be termed as “a suspicion subject to a case of fishing inquiry”. Even...

3. Validity of order passed u/s 142(2A) for special audit - Though proviso is silent about reasonable opportunity, it refers opportunity to both the petitioner as well as...

4. Reopening of assessment u/s 147 - Reasons to believe - The ITAT thoroughly examined the reasons recorded by the AO for re-opening the assessment and found that there was...

5. Reopening of assessment u/s 147 - since the proposed re-opening has been issued after expiry of four years of the end of the relevant assessment year, proviso to Section...

6. Validity of draft assessment order u/s 144C(1) - difference in numbers in closing and opening stock of Lingerie - The show cause notice lacked specific quantification of...

7. Re-opening of assessment u/s 147 - notice beyond period of four years - change in the opinion or a later decision on the legal aspects - The High court finds no evidence...

8. Validity of Assessment order - void ab-initio or not - assessment u/s.144 - despite many opportunities, the assessee did not respond to the AO. That even before making...

9. 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...

10. Unexplained cash credit - Addition u/s 68 - Since the assessment was becoming time barred, the AO has passed the impugned Assessment Order in a hurried manner even...

11. Reopening of assessment u/s 147 - sanction required u/s 151 has not been validly obtained - even while conveying the approval for re-opening, Addl.CIT has displayed...

12. Petitioner challenged validity of Assessment Order under Income Tax Act on grounds of breach of principles of natural justice and denial of opportunity for personal...

13. Validity of assessment order and bank attachment order - Input Tax Credit (ITC) availed of by the petitioner was reversed on the ground that three suppliers had issued...

14. Reopening of assessment - It cannot by any stretch of imagination be said that the A.O. has not gone through the tax audit report while framing assessment u/s 143(3)...

15. Undisclosed Capital gain - Scope of block assessment proceedings - AO is concerned only with undisclosed income and he has no power to consider material and evidence not...