Home Highlights July 2018 Year 2018 This

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1. Reassessment - Validity of notice u/s 148 of the Act – Reason to believe – The material found in post search enquiries could form a “reason to believe“ that income had...

2. Validity of reassessment proceedings - Reason to believe - The tribunal found that there was sufficient "reason to believe" that income had escaped assessment due to the...

3. 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...

4. Validity of reopening of assessment u/s 147 - Reason to believe - Addition u/s 69C on account of the capital introduced by the partner and unsecured loans - The Tribunal...

5. 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...

6. Reopening of assessment u/s 147 - Validity of reasons to believe - No linkage of the assessee has been established with the information received from investigation wing...

7. Validity of proceedings initiated u/s 132A - search and seizure - non-disclosing the “reason to believe” or "reason to suspect” - in view of amendment in Section 132A of...

8. Validity of reopening of assessment u/s 147 - Reason to believe - The Appellate Tribunal observed that the reassessment proceedings were initiated solely based on the...

9. Validity of reassessment proceeding - Section 29 of the U.P. VAT Act, 2007 - interpretation of statute 'reason to believe' - escapement from tax - deemed sale of...

10. Initiation of re-assessment proceedings - Reasons to believe - AO initiated re-assessment proceedings just to verify the deposits and withdrawals from the bank account...

11. Validity of Reassessment proceedings - reason to believe escapement of income - The High Court agreed with the petitioner's contention that the reasons provided by the...

12. Validity of Reopening of assessment u/s 147 - eligibility of reasons to believe - initiation of reassessment proceedings u/s.147 of the Act, issuance of notice u/s.147...

13. The case before the Allahabad High Court involved the validity of reassessment proceedings initiated by the assessing authority based on information that the purchaser...

14. 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.

15. The ITAT Ahmedabad considered the validity of reassessment proceedings based on borrowed satisfaction by the AO. The AO alleged non-independent application of mind by...