Home Highlights August 2015 Year 2015 This

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1. 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...

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

3. Reopening of assessment u/s 147 - Change of opinion - the threshold bar for initiation of the reassessment proceedings is satisfied. This Court must conclude, at this...

4. 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...

5. 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...

6. Reopening of assessment u/s 147 - Reasons to belive - change of opinion - there was no new material which had come to the notice of the Assessing Officer and the entire...

7. Initiation of reassessment proceedings - AO has nowhere brought out as to how the claim of depreciation at higher level in the original assessment proceedings can be...

8. Reopening of assessment u/s 147 - Reason to believe - change of opinion - the reassessment is being resorted to only on account of ‘change of opinion’ of the Assessment...

9. Reopening of assessment u/s 147 - change of opinion - when the primary facts necessary for assessment are fully and truly disclosed, the Assessing Officer is not...

10. Reassessment proceedings after information received from Director of Investigation regarding bogus/accommodation entries - HC

11. Levy of penalty - there is change in opinion and basis for levy of penalty for concealment varies - there is no merit in levy of penalty under section 271(1)(c) of the...

12. Levy of entry tax on packing material of tea upheld - SC

13. Levy of penalty u/s. 271D - violation of the provisions of Section 269SS - The entire case of the Revenue rests on interpreting the entries in a diary found during...

14. Interpretation of “local area” - Levy of entry tax - The object of the levy, i.e., entry tax, is the regulation of entry of goods in a regular area for consumption,...

15. Reassessment of Bill of Entry - case of the Revenue is that respondent should have appealed before the Commissioner (Appeals) against the assessment of the Bill of Entry...