Reopening of assessment - the reasons recorded for re-opening ...

Income Tax

March 27, 2015

Reopening of assessment - the reasons recorded for re-opening shows that the AO did not find any error in the explanation of the assessee for non-application of Explanation to Sec. 73, but still invoked the provisions of Explanation to Sec 73 - re-opening in this case was not valid - AT

View Source

← Previous Next →

Reopening of assessment - the reasons recorded for re-opening ...

Income Tax

March 27, 2015

You may also like:

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...

Reopening of assessment - The reasons assigned by the AO to tentatively believe that taxable income has escaped assessment cannot be brushed aside at the threshold...

Reopening of assessment u/s 147 - The entire exercise of re-opening would depend upon the reasons recorded by the AO and therefore the reasons recorded to re-open the...

Reopening of Assessment - if the reason on which the assessment is reopened fails, the AO can not proceed to assess some other income - HC

Validity of reopening of assessment u/s 147 - AO has not even made minimum exercise for ascertaining the unsecured loans accepted during the year, under consideration...

Reopening of assessment u/s 147 - Unexplained loan - There were no justification for the A.O. to record non-existing, incorrect and wrong facts in the reasons for...

Reopening of assessment - Applicability of section 145A - valuation of closing stock - Not open for AO to reexamine the entire issue which would be merely on the change of opinion.

Reopening of assessment u/s 147 - bogus purchases - to what exact income had escaped assessment may be open for argument, nevertheless, would not be a ground to quash...

Reopening of assessment u/s 147 - since the proposed re-opening has been issued after expiry of four years of the end of the relevant assessment year, proviso to Section...

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...

Quick Updates: