Rejection of books of accounts - Assessing Officer being the ...

Assessing Officer Must Evaluate Assessee's Explanation on Accounts Before Decision; Issue Reasoned Order Based on Review.

February 8, 2014

Case Laws VAT and Sales Tax HC

Rejection of books of accounts - Assessing Officer being the authority is bound to consider the explanation given by the assessee and thereafter, pass a reasoned order either accepting or rejecting the explanation. - HC

View Source

← Previous Next →

Rejection of books of accounts - Assessing Officer being the ...

Assessing Officer Must Evaluate Assessee's Explanation on Accounts Before Decision; Issue Reasoned Order Based on Review.

February 8, 2014

Case Laws VAT and Sales Tax HC

You may also like:

The ITAT Delhi held that the notice issued by a non-jurisdictional Assessing Officer u/s 148 was invalid. The jurisdiction over the assessee was with a different...

Revision u/s 263 - merger of the order - the entire issue of limited scrutiny, reasons for selection, the Bank accounts in questions were before the ld. Pr. CIT. On this...

Exemption u/s 11 - seeking benefit on the ground of mutuality in case of denial of benefit of section 11 by invoking section 13 - the assessee has clearly gave the...

Reopening of assessment u/s 147 - Assessing Officer to usurp the jurisdiction to reopen the assessment - The first Assessing Officer has made the reassessment after...

Section 142(1) notice issued by non-jurisdictional officer held valid. Plain reading of Section 143(2) indicates either Assessing Officer or prescribed income-tax...

Once the principal grounds on which reassessment was proposed are dropped, no further additions can be made even by taking recourse to Explanation 3. There is an...

Deduction claimed u/s 57 against income returned u/s 56 - manner of apportioning assessee's expenses to earning income u/s 56 disputed - Revenue authorities rejecting...

Validity of Reopening of assessment u/s 147 - reason to believe - Reply of the assessee through reproduced but the contents thereof are not even referred or analyzed...

Addition u/s 68 - cash credit in the books of accounts - issue of shares warrant - As assessee has submitted the complete details before the assessing officer and...

Reopening of assessment u/s 147 - Rejection of objections of the assessee - The stance of the Assessing Officer leads this Court to prima facie believe that the...

The ITAT decided in favor of the assessee, a doctor residing in the United Kingdom. The unexplained cash deposits in the assessee's Indian bank account during the...

Reopening of assessment u/s 147 - Mere production of books of account and the details by the assessee are one aspect of the matter and even with reference to such books...

Set-off of MAT credit u/s 115JAA - surcharge and cess - The observation of the Ld.CIT(A) that the issue is debatable one is not sustainable - majority of the decisions...

The High Court quashed the reassessment proceedings initiated by the Assessing Officer u/s 148 of the Income Tax Act, holding it to be a case of "change of opinion" and...

The High Court held that for levying penalty u/s 271D for violation of Section 269SS, the Assessing Officer must record satisfaction that the provisions were violated....

Quick Updates: