Home Highlights April 2014 Year 2014 This

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1. Reopening of assessment u/s 147 where assessment proceedings already pending - Unless the return of income already filed is disposed of, the notice for reassessment u/s...

2. Reopening of assessment u/s 147- non-issue of notice u/s. 143(2) - Non filing of ITR within thirty days after issue of notice u/s. 148 - though the assessee did not file...

3. Reopening of assessment u/s 147 - When the A.O. admits in the notice under section 142(1) Dated 20.10.2014 that assessee filed return of income under section 148 of the...

4. Reopening of assessment u/s 147 - transfer of case u/s 127 - jurisdiction of AO for reassessment - the issue to lack of jurisdiction can be raised at any stage in a case...

5. Reopening of assessment u/s 147/148 - failure to issue notice u/s 143(2) - reopening of assessment is not valid as the Income Tax Department has power to conduct the...

6. Validity of assessment u/s 147 - it is not a return u/s 119(2)(b) albeit it is a return filed in response to notice u/s 148 which has been accepted by the AO. Thus, when...

7. 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...

8. Reopening of assessment u/s 147 - multiple entries in the information received from INV Wing - the balance sheet filed with the return of income clearly showed unsecured...

9. Reassessment u/s. 147 - non availability of file containing reasons to believe - there is no material brought to our notice that reasons were recorded before issue of...

10. Reopening of assessment u/s 147 - An inadvertent error committed by the Petitioner in reflecting that the return of income had been filed under the category ‘u/s...

11. Assessing Officer, instead of complying with the provisions of section 153C, proceeded with the reassessment under section 147/148 which is not applicable to search...

12. The Assessing Officer, instead of complying with the provisions of section 153C, proceeded with the reassessment under section 147/148 which is not applicable to search...

13. Assessment to be framed u/s 153C OR u/s 147/148 - Validity of the reassessment proceedings - Initiation of action u/s 153C would arise only if the seized material are...

14. Reassessment u/s 147 - fictitious F&O loss by manipulative client code modification - return was originally processed u/s 143(1) and notice u/s 148 was issued within...

15. Validity of assessment made u/s 147 instead of u/s. 153C - Addition as unexplained cash credit u/s. 68 - Upon examination, the ITAT Delhi found that the seized material,...