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Income Tax - Highlights / Catch Notes

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Notice u/s 148 - Assessing Officer can form an independent ...

Income Tax

August 10, 2013

Notice u/s 148 - Assessing Officer can form an independent opinion on an issue which may have been brought to his/her notice by the audit party and seek to reopen the assessment, provided it is the Assessing Officer's independent belief that income chargeable to tax has escaped assessment - Notice quashed - HC

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  1. Reassessment - opinion is formed by the AO and the reference if at all to the Transfer Pricing Officer is later for confirming, etc. - Notice u/s 148 sustained - HC

  2. Reopening of assessment - Merely, because the audit report has opined that certain expenses were not allowable does not entitle the Assessing Officer to issue a notice u/s 148 - HC

  3. Reopening of assessment u/s 147 - Jurisdiction - objections were raised by the assessee u/s 124(3) of the Act, within one month of receipt of notice u/s 148 of the Act...

  4. If the Assessing Officer has time in his hands to issue notice u/s 143(2), why is he issuing notice u/s 148, we do not understand, specifically in the background of the...

  5. Validity of reopening of assessment - time limit for issue of notice u/s. 143(2) has not expired and regular assessment could have been made - the assessing officer...

  6. Reopening of assessment u/s 147 - reason to believe - The reasons recorded were totally unfounded and consequently the jurisdictional notice under Section 148 issued by...

  7. Reopening of assessment - based on Investigation Wing report - apparently wrong facts in reasons - No primary independent enquiry - non-application of mind - notice u/s...

  8. Reopening of assessment - the formation of opinion without examining the issue (as according to the Assessing Officer, the issue is yet to be examined and the notice...

  9. Reopening of assessment u/s 147 - Notice after the expiry of period of four years - Admissibility of deduction u/s 80I - The issue was already considered by the AO - In...

  10. Reopening of assessment u/s 147 - non independent application of mind by AO - Scope of borrowed satisfaction - The Appellate Tribunal found that the reopening was solely...

 

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