Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights June 2016 Year 2016 This

Reopening of assessment - The conclusion of the A.O. is ...


Reopening of Assessment Challenged Due to Lack of Clarity in AO's Conclusion on Accommodation Entries.

June 25, 2016

Case Laws     Income Tax     AT

Reopening of assessment - The conclusion of the A.O. is unhelpful in understanding as to whether the AO applied his mind to the material, particularly when he did not describe how and in what manner it came to his knowledge that the assessee received the accommodation entries. - AT

View Source

 


 

You may also like:

  1. The Appellate Tribunal examined the issue of invoking revisional jurisdiction u/s 263 in a case involving receipts of accommodation entries and reopening of assessment....

  2. Reopening of assessment u/s 147 was challenged. The Assessing Officer (AO) had disallowed 20% of total sundry creditors in the regular assessment u/s 143(3). The AO...

  3. Reopening of assessment - accommodation entries - nothing concrete was brought on record to substantiate that the assessee received any entry or made payment for...

  4. Reopening of assessment u/s 147 - The High Court observed that, the expression “accommodation entry” and “bogus financial transaction” in the recorded reasons are not...

  5. The Assessing Officer (AO) reopened the assessment solely based on the information from a survey conducted by the Sales Tax Department, without independently examining...

  6. AO issued notice u/s 148A(b) alleging petitioner received accommodation entries from entities controlled by Sh. Joginder Pal Gupta. Petitioner denied receiving any...

  7. The ITAT Mumbai held that addition as unexplained income based on accommodation entries lacked proof of transaction nature, creditworthiness, and genuineness. AO's...

  8. ITAT ruled the assessment order invalid due to procedural deficiencies and lack of proper jurisdiction. The AO failed to issue mandatory notice under Section 143(2)...

  9. Validity of the reassessment order u/s 147 - addition of bogus accommodation entry - AO has not even mentioned as to what was the nature of entry as given in the report...

  10. Reopening of assessment u/s 147 - Change of opinion - The reopening of the assessment is nothing but a mere change of opinion on the part of AO. If the AO could not...

  11. 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...

  12. The crux of the matter revolves around the reopening of assessment u/s 147 of the Act and the addition made u/s 68 treating the share application received as a...

  13. 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...

  14. Reopening of assessment u/s 147 - reasons to believe - roving enquiry - accommodation entries - The exercise undertaken by revenue and the reasons to reopen the...

  15. 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...

 

Quick Updates:Latest Updates