Reopening of assessment u/s 147 - Lack of full disclosures - ...

Case Laws Income Tax

June 18, 2022

Reopening of assessment u/s 147 - Lack of full disclosures - Time given vide SCN dated 13.09.2021 is too short - To be noted, vide paragraph 3 of the SCN, writ petitioner-assessee was called upon to respond by 23:59 hours on 16.09.2021. 13.09.2021 is a Monday and obviously 16.09.2021 is Wednesday and that fairly three working days. It is clearly insufficient. - the impugned assessment order made by the first respondent is set aside on the grounds of lack of opportunity / specificity - Matter restored back - HC

View Source

← Previous Next →

Reopening of assessment u/s 147 - Lack of full disclosures - ...

Case Laws Income Tax

June 18, 2022

You may also like:

Reopening of assessment u/s 147 - The duty is cast upon the assessee to make true and full disclosure of the facts at the time of original assessment. The duty of the...

Reopening of assessment u/s 147 - Reasons were supplied to the assessee only on 21.11.2017 and assessee on the same day filed the objections to the reopening of the...

Reopening of assessment - reason to believe - The Court evaluates the concept of "true and full disclosure" as mandated by Section 147, considering relevant legal...

Reopening of assessment u/s 147 - reopening after expiry of four years - Original assessment have been passed under section 143(3) on Dated 14.12.2011 and A.O. recorded...

Reopening of assessment u/s 147 - The two situations are distinct and different. Thus, where the transaction itself on the basis of the subsequent information, is found...

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 - Change of opinion - As has always been observed, notice under Section 147 is not to be casually invoked to suit the convenience of the...

Revision u/s 263 - period of limitation - To be calculated from the date of original assessment or from the date of re-assessment after reopening - the issue on which...

Reopening of assessment u/s 147 - Time limit for notice - there is no document made available to prove that the notice under section 148 dated 31.03.2018 was sent for...

Reopening of assessment u/s 147 - reason to believe - Transaction of purchases being made by the petitioner from M/s NSE had been found to be bogus one on the basis of...

Reopening of assessment u/s 147 - second re-assessment notice u/s 148A - The High Court noted that the petitioner did not challenge the earlier re-assessment order dated...

Reopening of assessment u/s 147 - Earlier, ITAT remanded the matter back requesting the AO to provide reasons for initiating reassessment proceedings. - AO must have...

Reopening of assessment u/s 147 - assessment after 4 years - reason to suspect OR reason to believe - Reopening of assessment which is already concluded under Section...

Validity of Reopening of assessment u/s 147 - The order of learned Judge suggesting that the question of whether there was true and full disclosure is still open, again...

Reopening of assessment u/s 147 - Reopening based on audit objections - reasons to believe - High Court observed that, reopening an assessment beyond four years requires...

Quick Updates: