Reopening of assessment - validity of reasons to believe - on ...

Income Tax

February 19, 2018

Reopening of assessment - validity of reasons to believe - on the application of method of valuation as mandated by the Explanation to Section 56(2)(vii) of the Act, prima facie, the Assessing Officer could not have had reason to believe that income chargeable to tax has escaped assessment. - HC

View Source

← Previous Next →

Reopening of assessment - validity of reasons to believe - on ...

Income Tax

February 19, 2018

You may also like:

Reopening of assessment u/s 147 - reasons to suspect OR reasons to believe - Power u/s 147 cannot be exercised merely on reason of suspicion but there should be reason to believe.

Validity of notice for reopening of assessment – Reason to believe - Remedial actions indicated could not be said to be satisfying the requirement of having held the belief - HC

Reassessment - Validity of notice u/s 148 of the Act – Reason to believe – The material found in post search enquiries could form a “reason to believe“ that income had...

Addition under the Head "Income from Other Sources" u/s 56(2)(viib) - It is apparent that there is no case of application of Section 56(2)(viib) to the facts of...

Reopening of assessment u/s 147 - Validity of reasons to believe - No linkage of the assessee has been established with the information received from investigation wing...

Addition u/s 56(2)(viib) - Method of valuation of shares - closely held company issues its shares at a premium - The tribunal sided with the assessee, affirming the FMV...

Reopening of assessment u/s 147 - reason to believe - The reasons recorded were totally unfounded and consequently the jurisdictional notice under Section 148 issued by...

Revision u/s 263 - issue of shares at premium - The Tribunal affirmed the PCIT's findings regarding the inadequacy of the AO's examination of the valuation of CCDs. It...

Reopening of assessment - The reasons assigned by the AO to tentatively believe that taxable income has escaped assessment cannot be brushed aside at the threshold...

Valuation of shares at a premium u/s 56(2)(viib) - Keeping in view that DCF is correct method of determining the FMV of the unquoted shares, the assessee has option to...

Quick Updates: