Initiation of the re-assessment proceedings by issuance of ...

Re-assessment Void if No Finding on Taxpayer's Failure to Disclose Material Facts u/s 148 Notice.

April 11, 2017

Case Laws Income Tax AT

Initiation of the re-assessment proceedings by issuance of notice u/s 148, without recording a finding that the escapement of income is due to the failure of the assessee to disclose fully and truly all material facts, is void ab initio. - AT

View Source

← Previous Next →

Initiation of the re-assessment proceedings by issuance of ...

Re-assessment Void if No Finding on Taxpayer's Failure to Disclose Material Facts u/s 148 Notice.

April 11, 2017

Case Laws Income Tax AT

You may also like:

Reopening of assessment u/s 147 - The High Court noted that the extended period of six years for reassessment could only be invoked under specific circumstances, one of...

The ITAT allowed the assessee's appeal against the reopening of assessment u/s 147 beyond the four-year period. The Assessing Officer failed to record a finding that the...

The High Court quashed the reopening notice issued by the Assessing Officer u/s 148 for reassessment beyond the period of four years. The assessee had filed returns...

Assessment completed u/s 143(3) accepting assessee's return, which included export incentive and foreign exchange fluctuation as other business income. Subsequently,...

Reassessment u/s 147 - original assessment u/s 143(3) - notice u/s 148 after expiry of four years - A bare perusal of the recorded reasons shows that there is no whisper...

Reopening of assessment u/s 147/148 - failure to issue notice u/s 143(2) - reopening of assessment is not valid as the Income Tax Department has power to conduct the...

Reopening u/s 148 - accommodation entry - recording of reasons to belief - AO did not mention any material facts in the reasons such as original assessment u/s 143(3),...

Reassessment u/s 148 - EPF not paid within time as per section 2(24)(x) r.w.s 36(1)(va) - duly disclosed in TAR and allowed in assessment - no new fact is brought on...

Reopening of assessment u/s 147 was based on reasons to believe the difference between total cash sales and cash sales reflected in books. Held: Reopening was made only...

The Appellate Tribunal examined the reopening of assessment after four years and the addition u/s 68 of the Income Tax Act. It held that the original assessment was...

The High Court held that the jurisdictional facts necessary to invoke Section 147 for reassessment were absent. The reassessment was initiated after the four-year...

Reopening of assessment u/s 147 - The notice under Section 148 has been issued purely by way of change of opinion relying on the same set of primary facts which had been...

Reopening of assessment u/s 147 - When the assessment is sought to be reopened after the expiry of period of four years from the end of the relevant year, the proviso to...

Validity of reopening of assessment u/s 147 - In the instant case the primary facts were already disclosed in the Notes to Accounts filed along with the balance-sheet...

Reopening of assessment u/s 147 was challenged on the ground of mere change of opinion. The assessee had filed return claiming deduction u/s 80IC and furnished all...

Quick Updates: