Validity of reassessment u/s 147 - If the AO had only verified ...

Case Laws Income Tax

November 8, 2023

Validity of reassessment u/s 147 - If the AO had only verified in the portal of assessee before initiating proceedings, particularly when he had the PAN number with him, AO would have realized that not only Petitioner has filed the Return of Income, but also the return has been processed and an order dated 26th February 2020 u/s 143(1) of the Act had been passed. Therefore, the notice that was issued under Section 148A(b) of the Act also has to be quashed and set aside. - HC

View Source

← Previous Next →

Validity of reassessment u/s 147 - If the AO had only verified ...

Case Laws Income Tax

November 8, 2023

You may also like:

Reopening of assessment u/s 147 - Initiation of reassessment proceedings, u/s.148 of the Act and issued notice to the assessee was based on valid reason on the strength...

Once the case of reassessment is made out by the AO which falls in the preview of specific provisions of section 153C of the Act, the AO cannot resort to invoke the...

Issue of reassessment u/s 263, where the Commissioner of Income Tax (CIT) upheld the reassessment as erroneous and prejudicial to the Revenue's interest for verification...

The crux of the matter revolves around the validity of reassessment proceedings initiated by the Assessing Officer (AO). The critical issue is whether there existed any...

Validity of the assessment order passed u/s 147 r.w.s. 143(3) - post search assessment - in the case on hand the pending reassessment proceedings u/s 147 got abated by...

Validity of the reassessment proceeding framed u/s 147 - Admittedly, the addition on account of bogus purchases has been made by the AO which is sufficient enough for...

The High Court held that the reassessment proceedings initiated by the Revenue were invalid due to the absence of any failure on the part of the assessee to disclose...

Reopening of assessment u/s 147 v/s assessment u/s 153C - proceedings initiated u/s 132 - The correct course of reassessment is under section 153C not under section 147...

The assessment officer (AO) initiated reassessment proceedings u/s 147 of the Act, citing Section 147(b) as the basis for approval, which is a non-existent provision....

Validity of order passed u/ss 154/147/143(3) - Disallowance of prior period expenses - Relevant previous year being first year of assessee's business, no prior period...

Reassessment proceeding under Section 147 was made to form change of opinion and therefore, it would clearly amount to reviewing the original order of assessment u/s 147...

The Assessing Officer (AO) initiated reassessment proceedings u/s 147/148 against the assessee based on documents seized from the premises of J.K. Jain during a CBI...

The ITAT Kolkata examined the validity of reassessment proceedings based on "reasons to believe" u/s 147. The AO's reasons lacked independent application of mind, being...

The ITAT Nagpur considered the validity of reassessment proceedings u/s 147. The AO issued notice beyond four years alleging capital gain on "Sale of Vehicles" escaped...

So long as the ingredients of section 147 are fulfilled, the AO is free to initiate proceeding u/s 147 and failure to take steps u/s 143(3) will not render the AO...

Quick Updates: