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 May 2018 Year 2018 This

Reopening of assessment - belief of escapement of income - ...


Income Tax Reassessment Canceled Due to Lack of Independent Verification; Relied Solely on Investigation Wing's Information.

May 27, 2018

Case Laws     Income Tax     AT

Reopening of assessment - belief of escapement of income - reopening merely on the information received from the Investigation Wing of the Department, i.e., just on borrowed satisfaction - reassessment cancelled.

View Source

 


 

You may also like:

  1. The appellant trust claimed to be formed for public charitable activities and registered under the Rajasthan Public Trust Act 1959, regularly filing its income tax...

  2. The court held that the Joint Assessing Officer (JAO) lacked jurisdiction to issue notices u/s 148 of the Income Tax Act for reassessment, as per Section 151A read with...

  3. The Department initiated the case based on income tax documents, which were public documents, and the presumption is on their truthfulness. The difference in value based...

  4. The HC quashed reassessment notices under Section 147 of the Income Tax Act, finding that the Assessing Officer failed to properly consider the Investigation Wing's...

  5. ITAT held that the Assessing Officer (AO) lacks jurisdiction to reopen assessment under section 147. The AO failed to establish a genuine reason to believe income...

  6. The ITAT Kolkata examined the validity of reassessment proceedings based on "reasons to believe" u/s 147. The AO's reasons lacked independent application of mind, being...

  7. The assessee failed to deduct tax on professional fees paid to various non-residents. The Assessing Officer (AO) held that the fees were liable to tax in India under the...

  8. CBDT extends due date for filing Income Tax Returns and Tax Audit Reports

  9. The summary highlights the key difference between the scope of total income under the Income Tax Act and the Black Money (Undisclosed Foreign Income and Assets) and...

  10. The ITAT Ahmedabad considered the validity of reassessment proceedings based on borrowed satisfaction by the AO. The AO alleged non-independent application of mind by...

  11. Interest u/s 234C - interest for deferment of advance tax - If on a particular due date for payment of advance tax, the facts show that there is no liability to pay...

  12. Due date for filing of Income Tax Returns - benefit of carry forward of loss - RBI permission letter mandating the assessee to get his accounts audited - Extension of...

  13. Penalty u/s 271(1)(c) for furnishing inaccurate particulars of income - adjustment made u/s 92CA - penalty levied u/s 271(1)(c) on the adjustment made u/s 92CA is not...

  14. Electronic Verification CODE (EVC) for electronically filed Income Tax Return - Additional Modes - Notification

  15. Electronic Verification Code (EVC) for electronically filed Income Tax Return - procedures, data structure and standards - Notification

 

Quick Updates:Latest Updates