Home Highlights March 2013 Year 2013 This

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1. Reopening of assessment u/s 147 - reply to the audit objections - in fact AO applied his mind to the audit party objection and formed a clear opinion that there is no...

2. Addition on failure to show the “gitty’ expenses in Closing Stock or WIP - addition based on audit objection - goods in transit - the AO passed the order in haste and it...

3. Notice u/s 148 - Validity of reassessment proceeding - Role of the Audit parties to point out of the factual mistakes and not to advise the AO on legal matters....

4. Reopening of assessment u/s 147 - The argument that the objections have not been considered may not hold water as the annexure does deal with the crux of the objections...

5. Short payment of service tax - as and when irregularities/objections were pointed out by the audit party, the respondents have immediately complied with the objections...

6. Revision u/s 263 - Revision based on Audit Objection - a mechanical exercise of revisionary powers u/s 263 by the Revisionary Authority by merely citing the Audit...

7. Reopening of assessment u/s 147 - It is settled law that the opinion of the Internal Audit party of the Income Tax Department cannot be recorded as information within...

8. Reopening of assessment u/s 147 - Reopening based on audit objection and also change of opinion - the reasons recorded in the present case are verbatim what the audit...

9. Validity of reopening of assessment - clandestine and unaccounted sales - The High Court reviewed a petition challenging the rejection of objections to a notice for...

10. CIT(A) was justified in holding that the reopening of the assessment, based on the audit objection, is neither legal nor valid, and consequently, cancelling the same - AT

11. Reopening of assessment u/s 147 - Audit objection - change of opinion - Reason to believe - if the audit objection on factual issue and, where, the audit party has...

12. Revision u/s 263 - Scope of audit objection - The entire exercise seems to have been done because of audit objection only. Since, the Assessing Officer had duly enquired...

13. Reopening of assessment u/s 147 - Period of limitation - The audit party is entitled to point out a factual error or omission in the assessment. reopening of the...

14. Penalty u/s 78 - The SCN was issued merely on audit objections and in view of the various decisions, no suppression can be alleged merely on audit objections.

15. Reopening of assessment - Non deduction of TDS u/s 194C - reliance on audit objection - it is evident from the assessment order that the AO had already scrutinized the...