Reopening of assessment - bad debts written off disallowed - To ...

Reopening Tax Assessment for Bad Debts Disallowance is Impermissible if It's Just a Change of Opinion.

June 30, 2023

Case Laws Income Tax AT

Reopening of assessment - bad debts written off disallowed - To reopen the already concluded assessment on the same very issue would be nothing but review of the order and on mere change of opinion which is impermissible - AT

View Source

← Previous Next →

Reopening of assessment - bad debts written off disallowed - To ...

Reopening Tax Assessment for Bad Debts Disallowance is Impermissible if It's Just a Change of Opinion.

June 30, 2023

Case Laws Income Tax AT

You may also like:

Reopening of assessment - concept of change of opinion - The court agreed with the petitioner's argument, stating that the reopening of the assessment was indeed based...

Reopening of assessment u/s 147 - Bad Debts - Petitioner clearly showed that the Petitioner had in response to specific queries raised during the assessment proceedings,...

Reopening of assessment - if the Assessing Officer is to reopen the finding rendered in the scrutiny assessment, then it would clearly amount to change of opinion, which...

The High Court held that the Assessing Officer cannot reopen the assessment u/s 147 merely based on a change of opinion. The assessee had fully and truly disclosed all...

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...

The HC held that the Assessing Officer could not reopen the assessment for AY 2013-14 merely relying on information from the insight portal without forming an...

Reopening of assessment u/s 147 - Change of opinion - The reopening of the assessment is nothing but a mere change of opinion on the part of AO. If the AO could not...

Reopening of assessment u/s 147 - reason to believe - commencement date / year for deduction u/s 80IA - Eligible from 1995 or 2000 - scope of change of opinion - We...

Reopening of assessment u/s 147 - True and full disclosure of all material facts - It is true that in the assessment order self-disallowances have not been discussed but...

Reopening of assessment u/s 147 - reply to the audit objections - in fact AO applied his mind to the audit party objection and formed a clear opinion that there is no...

Validity of reopening of assessment - clandestine and unaccounted sales - The High Court reviewed a petition challenging the rejection of objections to a notice for...

Disallowance of bad debt - the assessee has shown such bad debts as debtors in the earlier assessment years which was subject to the scrutiny assessment u/s 143(3) and...

Reopening of assessment - notice issued after the expiry of more than 4 years - Capitalization of interest income - The High Court observed that, the AO having raised a...

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...

The High Court held that the Assessing Officer (AO) could not reopen the assessment merely based on a belief that the average gross profit in the assessee's business...

Quick Updates: