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Income Tax - Highlights / Catch Notes

Home Highlights October 2015 Year 2015 This

Reopening of assessment - One fails to comprehend as to how the ...

Income Tax

October 21, 2015

Reopening of assessment - One fails to comprehend as to how the cash withdrawals from accounts maintained by the assessee can be said to amount to escapement of income within the meaning of section 147 - HC

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

  2. Addition u/s 68 - cash credit - the alleged surplus cash accumulated in the cash book out of the withdrawals from the bank is to be considered as source of re-deposit - AT

  3. Validity of reopening of assessment - It is well settled Law that validity of the reassessment proceedings is to be judged with reference to the reasons recorded for...

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  6. Reopening of assessment u/s 147 - In case incorrect, wrong and non-existing reasons are recorded by the A.O. for reopening of the assessment and A.O. failed to verify...

  7. Addition u/s 68 - large cash withdrawal by the assessee immediately before the search and seizure operation - during search and seizure operation, the cash amount was...

  8. Reopening of assessment u/s 147 - unexplained cash credit - ITAT quashed the notice - Unfortunately, the tribunal failed to examine any of the factual details which have...

  9. Addition on account of cash deposited in the bank - undisclosed income - The onus was of the Revenue to reject the contention of the assessee based on cogent reasons...

  10. Cash Credit, amount received in cash, assessee failed to explain, amount is taxable u/s 68 - SC

 

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