Section 69B does not give the AO the option of applying any ...

Section 69B Limits Assessing Officer's Discretion in Quantifying Understated Investments Once Proven.

April 30, 2014

Case Laws Income Tax HC

Section 69B does not give the AO the option of applying any reasonable yardstick to measure the precise extent of understatement of the investment once the fact of understatement is proved. - HC

View Source

← Previous Next →

Section 69B does not give the AO the option of applying any ...

Section 69B Limits Assessing Officer's Discretion in Quantifying Understated Investments Once Proven.

April 30, 2014

Case Laws Income Tax HC

You may also like:

The case pertains to the scope of limited scrutiny by the assessing officer regarding computation of capital gains u/s 45 and providing exemption u/s 54B of the Income...

The Tribunal held that the assessment order passed by the Assessing Officer was barred by limitation and quashed it. As per Section 144C(13) read with Section 143(3),...

The issue pertained to the validity of filing a revised return after the prescribed time limit. The High Court set aside the Tribunal's order, stating that after the...

Validity of reopening of assessment - Enquiry to be conducted before issuance of a notice by the AO u/s 148A(a) - The High court found that conducting an inquiry before...

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...

Conversion of “Limited Scrutiny” into “Complete Scrutiny” - Expanding the scope of limited scrutiny assessment without necessary approval - Since the notice under...

Revision u/s 263 - bogus purchase - proof of nexus between the purchases and sales - once submission/reply filed by the assessee, pursuant to enquiry by the Assessing...

The final assessment order passed by the Assessing Officer u/s 147 read with Section 144C(13) for the Assessment Year 2016-17 is quashed as barred by limitation. Except...

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...

Rectification of mistake u/s 254 - non issuance of valid notice u/s 143(2) - transfer of case u/s 127 - Legislative intent becomes clear with reading to Section 127(3)...

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...

Disallowance u/s 14A read with Rule 8D - The assessing officer's reliance on CBDT Circular No. 5 of 2014 to make disallowance u/s 14A is legally untenable and liable to...

The Transfer Pricing Officer's order was held invalid as it was issued beyond the time limit prescribed u/s 92CA(3A) of the Act read with Section 153. The ITAT ruled...

Exemption u/s. 11 - Addition u/s 69A and 69B - With respect to the applicability of Section 69B of the Act, we find that assessee has given self-help loan to the members...

Amendment of section 124. - jurisdiction of Assessing Officers - in a case where a search is initiated under section 132 or books of account, other documents or any...

Quick Updates: