Reopening of assessment - the entire basis for the formation of ...

Income Tax

May 24, 2017

Reopening of assessment - the entire basis for the formation of belief to invoke section 147 is a damp squib. As a Corollary, the reasons recorded are not in sync with section 147 of the Act and are marred by wrong application of law and therefore cannot be sustained. - AT

View Source

← Previous Next →

Reopening of assessment - the entire basis for the formation of ...

Income Tax

May 24, 2017

You may also like:

Reopening of assessment u/s 147 - Bogus LTCG - AO has reason to believe that the petitioner is a beneficiary of accommodation entry and basis for formation of such...

Reopening of assessment u/s 147 - accommodation entry receipts - reasons to believe - The reasons for the formation of the belief by the Assessing Officer in the instant...

Reopening of assessment u/s 147 - - reopening based on report of the Investigation Wing - Assessing officer can rely on the report of DIT, Investigation Wing but at the...

Reopening of assessment u/s 147 - upon purchase of the flat, the purchaser certainly acquires a right or interest in the proportionate share of the land but its...

Reopening of assessment u/s 147 - addition u/s 68 - The reasons for the formation of the belief by the Assessing Officer in the instant case, appear to have a rational...

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 assessment u/s 147 - difference pointed out by the DVO in his valuation report - There should be a live link between the material coming to the notice of...

Reopening of assessment u/s 147 - Transfer of case u/s 127 - There is no nexus between the material coming to the notice of the AO and the formation of his belief that...

Reopening of assessment u/s 147 - the very basis of reopening of assessment is based on incomplete or wrong facts available on record as the said transaction of sale of...

Reopening of assessment u/s 147 - the notice u/s 148 on the basis of “on verification of records” - the AO has power to reopen the assessment, provided there is...

Quick Updates: