Reopening of assessment u/s 147 - In case incorrect, wrong and ...

Income Tax

December 10, 2020

Reopening of assessment u/s 147 - In case incorrect, wrong and non-existing reasons are recorded by the A.O. for reopening of the assessment and A.O. failed to verify the information received due to non application of mind to information, reopening of the assessment would be unjustified and is liable to be quashed. - Reopening of the assessment is illegal and bad in Law and is liable to be quashed. - AT

View Source

← Previous Next →

Reopening of assessment u/s 147 - In case incorrect, wrong and ...

Income Tax

December 10, 2020

You may also like:

Reopening of assessment u/s 147 - Unexplained loan - There were no justification for the A.O. to record non-existing, incorrect and wrong facts in the reasons for...

Reopening of assessment u/s 147 - A.O. has recorded incorrect, wrong and non-existing reasons for reopening of the assessment and also failed to verify the information...

Validity of reopening of assessment - unexplained bank deposits - A.O. has recorded incorrect, wrong and non-existing reasons in the reasons recorded for reopening of...

Reopening of assessment u/s 147 - reasons recorded on incorrect assumption of facts and non application of mind - possession of ITS information that the assessee has...

Reopening of assessment u/s 147 - validity of reasons to believe - undisclosed profit - No approval sought from the Additional Commissioner/Commissioner of Incometax...

Reopening of assessment u/s 147 - Non dealing with objections - In the present case, apart from the fact that the reopening of the assessment being bad in law for...

Reopening of assessment u/s 147 - No addition being loan given forming the main `reason for escapement of income’ u/s 147 of the Act has been made by the AO and instead,...

Reopening of assessment u/s 147 - the very basis of reopening of assessment is based on incomplete or wrong facts available on record as the said transaction of sale of...

Reopening of assessment u/s 147 - The application of mind by the AO to the new and tangible material has to be discerned from the reasons recorded in each case and from...

Reopening of assessment u/s 147 - reasons to believe - It is settled law that the reasons for reopening an assessment can be tested and examined only on the basis of the...

Reopening of assessment u/s 147 - ‘reasons to believe’ and ‘reasons to suspect’ - Merely on the basis of suspicion observed that the aforesaid entry might be a bogus...

Reopening of assessment u/s 147 - bogus purchases - AO having not carried out the scrutiny assessment within the prescribed statutory limit, cannot be given another...

Reopening of assessment u/s 147 - reason to believe - there was tangible material before the AO to reopen the concluded assessment as the assessee is claiming huge...

Reopening of assessment u/s 147 - Addition u/s 68 - AO has mentioned wrong and incorrect facts in the reasons recorded for reopening of the assessment and did not apply...

Reopening of assessment u/s 147 - share premium - As the reasons recorded does not quantify even an estimated amount of the alleged income which has escaped assessment...

Quick Updates: