Home Highlights May 2012 Year 2012 This

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1. 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...

2. Validity of reopening of assessment - notice against non existent entity / amalgamated company - Notices issued.

3. Amendment of section 147. - Reopening of an assessment - a case shall be deemed to be a case where income chargeable to tax has escaped assessment where on the basis of...

4. Reopening of assessment u/s 147 - concept of change of opinion - In cases where the return of an assessee is accepted without scrutiny, the assessing officer enjoys a...

5. Validity of reopening of assessment u/s 147 - CIRP proceedings - The proceedings under the Insolvency and Bankruptcy Code, 2016 (IBC) cannot be pressed into service to...

6. Non-Compete fees - taxability - chargeable to tax as ‘business income’ - AT

7. Reopening of assessment - determination of the 'income chargeable to tax' - The amount of “capital gain” is to be considered or the “entire sale consideration” to be...

8. 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...

9. Reopening of assessment u/s 147 - eligibility of reasons to believe - the foundation on which the AO based his belief that income chargeable to tax had escaped...

10. Duty of AO to Guide the Assessee - Considering the specific facts on record that the assessee is non resident the amount which the ld. AO has taxed is earned and sourced...

11. Validity of reopening of assessment u/s 147 - AO did not issue the notice under section 143(2) - It is the discretion of the Assessing Officer to accept the return of...

12. Validity of reopening of assessment u/s 147 - AO has not even made minimum exercise for ascertaining the unsecured loans accepted during the year, under consideration...

13. TDS u/s 195 - Disallowance u/s 40(a)(i) - the said income in the hands of non-resident has to be considered in the light of the provisions of DTAA between India and the...

14. Reopening of assessment u/s 147 - reasons to believe that income had escaped tax - According to the AO he was satisfied that there was insider trading amongst two family...

15. Validity of reopening of assessment u/s 147 - Income accrued in India - Assessee had shifted to the United States - period of stay in India - Since the assessee did not...