Re opening of assessment - Revenue Department had enough ...

Revenue Department Authorized to Reopen or Reassess Taxpayer's Assessment Based on Sufficient Information.

June 24, 2013

Case Laws Income Tax AT

Re opening of assessment - Revenue Department had enough information in its possession, therefore fully empowered to reopen the assessment or otherwise assess this assessee - AT

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Re opening of assessment - Revenue Department had enough ...

Revenue Department Authorized to Reopen or Reassess Taxpayer's Assessment Based on Sufficient Information.

June 24, 2013

Case Laws Income Tax AT

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Reopening of assessment u/s 147/148 - failure to issue notice u/s 143(2) - reopening of assessment is not valid as the Income Tax Department has power to conduct the...

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...

The High Court held that the Assessing Officer cannot reopen the assessment u/s 147 merely based on a change of opinion. The assessee had fully and truly disclosed all...

The Appellate Tribunal considered the validity of the reopening of assessment u/s 147 beyond four years. The assessment was based on notes to accounts for AY 2009-10....

The High Court held that the reopening of the assessment based on a subsequent judgment that the transaction in question was amenable to tax was impermissible. Once an...

The Assessing Officer (AO) reopened the assessment solely based on the information from a survey conducted by the Sales Tax Department, without independently examining...

Reopening of assessment u/s 147 was based on reasons to believe the difference between total cash sales and cash sales reflected in books. Held: Reopening was made only...

Reopening of assessment u/s 147 - Material, which was already placed on record, and considered in earlier two rounds of litigation can hardly be a reason to reopen the...

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...

The HC quashed the reassessment notice issued under section 148, finding it impermissible as a mere change of opinion rather than based on new information. The...

Validity of reopening of assessment - It is well settled Law that validity of the reassessment proceedings is to be judged with reference to the reasons recorded for...

Reopening of assessment u/s 147 was challenged. The Assessing Officer (AO) had disallowed 20% of total sundry creditors in the regular assessment u/s 143(3). The AO...

Reopening of assessment u/s 147 - reasons to believe - The High court observes that all the issues raised in the notice for reopening were indeed subject to discussion...

HC dismissed Revenue's appeal challenging reopening of assessment u/s 147. The court found no valid grounds for reassessment as there was no failure by assessee to...

Reopening of assessment u/s 147 - excess claim of Deduction u/s 10B - The case of the respondent (Revenue) is that the petitioner was in the habit of making an excess...

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