CIT(A) was justified in holding that the reopening of the ...

Tax Authority's Reopening Based on Audit Objection Ruled Invalid, Reassessment Canceled by Commissioner of Income Tax (Appeals.

June 17, 2014

Case Laws Income Tax AT

CIT(A) was justified in holding that the reopening of the assessment, based on the audit objection, is neither legal nor valid, and consequently, cancelling the same - AT

View Source

← Previous Next →

CIT(A) was justified in holding that the reopening of the ...

Tax Authority's Reopening Based on Audit Objection Ruled Invalid, Reassessment Canceled by Commissioner of Income Tax (Appeals.

June 17, 2014

Case Laws Income Tax AT

You may also like:

The High Court held that the reassessment proceedings initiated by the Assessing Officer based on an audit objection were invalid. The Court observed that the Assessing...

The case pertains to the reopening of assessment u/s 147, where the reasons recorded were based on audit objections raised by the internal audit party regarding...

HC dismissed writ petition challenging reassessment proceedings under Section 147. Court declined jurisdiction noting petitioner's failure to raise TOLA provisions...

Reopening of assessment u/s 147 - reply to the audit objections - in fact AO applied his mind to the audit party objection and formed a clear opinion that there is no...

Reassessment - The audit objection is based upon the legal opinion expressed by them and not pointing out any factual error or omission - reopening of assessment was not valid - AT

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...

Validity of reopening of assessment - clandestine and unaccounted sales - The High Court reviewed a petition challenging the rejection of objections to a notice for...

Addition on failure to show the “gitty’ expenses in Closing Stock or WIP - addition based on audit objection - goods in transit - the AO passed the order in haste and it...

The High Court quashed the reopening notice issued by the Assessing Officer u/s 148 for reassessment beyond the period of four years. The assessee had filed returns...

Rectification of mistake u/s 154 - AO issued notice u/s 154 based on audit objections, adding waiver of principal amount and revising book profit. Tribunal dismissed...

Reassessment proceedings initiated solely based on an audit objection without fresh tangible material are impermissible. A mere change of opinion by the Assessing...

Reopening of assessment u/s 147 - Reopening based on audit objection and also change of opinion - the reasons recorded in the present case are verbatim what the audit...

CIT allowed to invoke Section 263 to revise assessment order due to AO's failure to verify assessee's explanation regarding investment in mutual funds/shares despite...

Reopening of assessment u/s 147 - Audit objection - change of opinion - Reason to believe - if the audit objection on factual issue and, where, the audit party has...

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...

Quick Updates: