So long as income chargeable to tax has escaped assessment and ...

Income Tax

December 7, 2011

So long as income chargeable to tax has escaped assessment and the Assessing Officer has reason to believe so, whether suo motu found by him from records or whether brought to his notice by the audit party or any other agency, the Assessing Officer will be justified in revising the assessment within the period of limitation provided therein.... - HC

View Source

← Previous Next →

So long as income chargeable to tax has escaped assessment and ...

Income Tax

December 7, 2011

You may also like:

Reopening of assessment u/s 147 - The requirement of section 147 of the Act is the Assessing Officer has reason to believe that income chargeable to tax has escaped...

Reopening of assessment u/s 147 - Once the Assessing Officer records the reasons that he has reason to believe that income has escaped assessment, it confers...

Reopening of assessment u/s 147 - reason to suspect v/s reason to believe - The reasons disclosed and placed on record do not allude to the material that was available...

Validity of reopening of assessment u/s 147 - if the assessing officer has cause or justification to know or suppose that income has escaped assessment, it can be said...

Reopening of assessment u/s 147 - concept of change of opinion - In cases where the return of an assessee is accepted without scrutiny, the assessing officer enjoys a...

Reopening of the assessment u/s 147/148 - The "reason to believe" would mean cause or justification. If the Assessing Officer has cause or justification to know or...

Reopening of assessment u/s 147 - Reasons to believe or suspect - huge share transaction - The court held that the reasons provided by the Assessing Officer for...

Reopening of assessment u/s 147 - There was live link or direct nexus between the material which suggested the escapement of income and information on the basis of...

Reopening of assessment - reasons to believe - The reasons as recorded at the highest, can only be termed as “a suspicion subject to a case of fishing inquiry”. Even...

Reopening of assessment u/s 147 - non-filing of return (ITR) - reason to believe - even if assessee failed to file the ITR, the primary requirement of the Assessing...

Reopening of assessment - validity of reasons to believe - on the application of method of valuation as mandated by the Explanation to Section 56(2)(vii) of the Act,...

Validity of Reopening of assessment u/s 147 - When pursuant to an information received from the Assistant Director of Income Tax (Inv.), Unit-3 (3), Kolkata, the...

Reassessment - The statute having thus fixed the assessment year in which the entire past accumulated income falls to be taxed, it is impermissible in law for the...

Reopening of assessment u/s 147 - The words ‘ reason to believe’ appearing in Section 147 cannot mean that the A.O should have finally ascertained the facts. Assessing...

Reopening of assessment u/s 147 - reason to believe - the reassessment proceedings were triggered without the AO applying his own mind and articulating his reasons as to...

Quick Updates: