Home Highlights April 2014 Year 2014 This

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1. Reopening of assessment - if the Assessing Officer is to reopen the finding rendered in the scrutiny assessment, then it would clearly amount to change of opinion, which...

2. Reopening of assessment u/s 147 - ‘reasons to believe’ and ‘reasons to suspect’ - Merely on the basis of suspicion observed that the aforesaid entry might be a bogus...

3. Reopening of assessment u/s 147 - In case incorrect, wrong and non-existing reasons are recorded by the A.O. for reopening of the assessment and A.O. failed to verify...

4. Reopening of assessment u/s 147 - A.O. has recorded incorrect, wrong and non-existing reasons for reopening of the assessment and also failed to verify the information...

5. 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...

6. 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...

7. 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...

8. Reopening of assessment u/s 147 - Reasons to believe - The ITAT thoroughly examined the reasons recorded by the AO for re-opening the assessment and found that there was...

9. Reopening of assessment u/s 147 - setting off of the interest expenses under Section 57 - The figures mentioned in the reason for reopening of assessment are also found...

10. 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...

11. Reopening of assessment u/s 147 - The assessment of the assessee for the year under consideration thus was reopened by the Assessing Officer after arriving at his own...

12. Reopening of assessment u/s 147 - Reopening on the basis of the audit objections - the reasons for reopening of the assessment are almost identically worded as that of...

13. Reopening of assessment u/s 147 - Reasons to believe - availability of tangible material - Having regard to the materials on record it cannot be said that there is a...

14. Reopening of assessment u/s 147 - AO has reasons to believe that such payments which were not considered during the original assessment escaped assessment and therefore,...

15. 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...