Reopening of assessment - the revised claim represents, by the ...

Income Tax

July 8, 2015

Reopening of assessment - the revised claim represents, by the assessee’s own admission, the correct claim of depreciation. Whether legally permissible or not, the AO is not constrained to take cognizance thereof or form an opinion on its basis; the sole criteria being its relevancy and credibility - AT

View Source

← Previous Next →

Reopening of assessment - the revised claim represents, by the ...

Income Tax

July 8, 2015

You may also like:

Additional depreciation on wind mill - assessee had made a claim in the revised computation of income statement filed before completion of assessment proceedings -...

Reopening of assessment - mere reliance on Audit report without forming his own opinion, reassessment proceedings initiated by the AO are not valid - HC

Reopening of assessment u/s 147 - The writ-applicant has claimed deduction under Section 35(1)(ii) of the Act and not under Section 80GGA of the Act. This fact is also...

Income from pension fund u/s 10(23AAB) - CIT(A) admitted the fresh claim - Claim of exemption when the income is taxable u/s 44 - If the assessee failed to revise its...

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...

Merely because the claim was not processed during the scrutiny assessment or that such claim was perhaps legally not sustainable, would not vest the jurisdiction in AO...

Reopening of Assessment – Claim of depreciation was not considered earlier - if there is no sanction as required under section 151 of the Act, the reopening would still...

Reopening of assessment - bogus claim of depreciation - the assessee is guilty of fraud and has perpetuated fraud todefraud the revenue - no relief can be granted.

Reopening of assessment u/s 147 - the claim of the assessee has been accepted treating the amount incurred on wooden shuttering and centering, revenue in nature - AT

Assessee has withdrawn its claim of deduction under Section 80IB, which was accompanied by revised return – assessee again claimed deduction - deduction allowed - AT

Quick Updates: