The HC invalidated the reassessment proceedings under Section ...

Reassessment Under Section 147 Invalidated: No New Material Found to Justify Reopening of Settled Assessment

March 12, 2025

Case Laws Income Tax HC

The HC invalidated the reassessment proceedings under Section 147, finding no tangible material indicating escaped income. The court determined that the Assessing Officer merely reconsidered the same material that had already undergone scrutiny during the original assessment, where Section 10A deductions were already reduced from the claimed amount. The reasons furnished for reopening failed to demonstrate any failure by the assessee to disclose true and full material facts-a prerequisite under Section 147. The court concluded that the reassessment constituted an impermissible change of opinion rather than discovery of new information, as no new material or undeclared income was identified that wasn't available during the original assessment process.

View Source

← Previous Next →

The HC invalidated the reassessment proceedings under Section ...

Reassessment Under Section 147 Invalidated: No New Material Found to Justify Reopening of Settled Assessment

March 12, 2025

Case Laws Income Tax HC

You may also like:

Validity of reopening of assessment - It is well settled Law that validity of the reassessment proceedings is to be judged with reference to the reasons recorded for...

Validity of reopening of assessment u/s 147 - Reason to believe - The court scrutinized the purported tangible material for reopening, which consisted of audit...

The crux of the matter revolves around the reopening of assessment u/s 147 of the Act and the addition made u/s 68 treating the share application received as a...

Reopening of assessment u/s 147 was based on reasons to believe the difference between total cash sales and cash sales reflected in books. Held: Reopening was made only...

Reopening of assessment u/s 147 - It is a settled principle of law that the AO cannot justify by taking recourse to some material and information beyond the scope of the...

HC invalidated reassessment proceedings initiated under Section 148 of Income Tax Act for AY 2014-15. The discovery of cash and gold during search operations on...

Assessment u/s 153A - Addition u/s 69A by the Assessing Officer on account of difference in amount credited in bank and sale proceeds shown in the income tax return. It...

Reopening of assessment u/s 147 - It is clear that the primary facts necessary for assessment were also disclosed. It is settled law that the Assessing Officer is not...

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 - Reasons to believe - The ITAT thoroughly examined the reasons recorded by the AO for re-opening the assessment and found that there was...

Reopening of assessment u/s 147 - while reopening no allegation was made by the learned AO of failure on the part of the assessee to disclose fully and truly all...

Validity of assessment u/s 153A regarding unexplained cash credits u/s 68, absence of incriminating material found during search proceedings, and lack of valid approval...

Reopening of assessment u/s 147 - AO has reasons to believe that such payments which were not considered during the original assessment escaped assessment and therefore,...

HC dismissed Revenue's appeal challenging reopening of assessment u/s 147. The court found no valid grounds for reassessment as there was no failure by assessee 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...

Quick Updates: