Home Highlights January 2018 Year 2018 This

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1. Validity of the provisional attachment order - Money Laundering - The authorities, after elaborate discussion, made a finding that he has a reason to believe that the...

2. Offense under PMLA - attachment orders - assets acquired prior to enactment of PMLA - It is noteworthy that the phrase ‘reason to believe’ has a specific connotation in...

3. Reopening of assessment u/s 147 - reason to believe - Claim of deduction on account of payment made to settle a class action suit - AO observed the same as in the nature...

4. Reopening of assessment u/s 147 - reasons to suspect OR reasons to believe - Power u/s 147 cannot be exercised merely on reason of suspicion but there should be reason to believe.

5. Money Laundering - scheduled offence - proceeds of crime - There is a distinct difference in the reason to believe appearing in Section 17 and the reason to believe in...

6. Reopening of assessment u/s 147 - Reasons to believe or suspect - huge share transaction - The court held that the reasons provided by the Assessing Officer for...

7. Seeking grant of regular bail - the High court noted the absence of a predicate offense or ongoing investigation related to a scheduled offense, aligning with the...

8. Revision u/s 263 by CIT - reopening of assessment u/s 147 - "reason to suspect" v/s 'reason to believe' - Information adverse may trigger "reason to suspect" and not...

9. Reopening of assessment u/s 147 - Eligibility of reason to believe - “Reason to believe” or ‘Reasons to suspect” - According to us, when the AO receives information of...

10. Reopening of assessment - reason to believe or reason to suspect - The ITAT examined the "reasons recorded" by the AO for reopening the assessment. It noted that the AO...

11. Reopening of assessment u/s 147 - reason to believe - the reassessment proceedings were triggered without the AO applying his own mind and articulating his reasons as to...

12. Reopening of assessment u/s 147 - Reasons to believe - AO was not having any reason to believe for initiating re-assessment - There cannot be any re-assessment for a...

13. Reopening of assessment - reasons to believe - The reasons as recorded at the highest, can only be termed as “a suspicion subject to a case of fishing inquiry”. Even...

14. Money Laundering - schedule offence - proceeds of crime - Section 44(1) of PMLA - On analysing the report of I.T. Department and the reasoning given by CBI while...

15. Reopening of assessment u/s 147 - reasons to believe - no income under the head income from House Property has been offered by the assessee during the year under...