Home Highlights August 2012 Year 2012 This

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1. Validity of reopening of assessment - Reasons were recorded by the Assessing Officer in an arbitrary manner and there is no application of mind by the AO. For example,...

2. Reopening of assessment u/s 147 - reasons recorded on incorrect assumption of facts and non application of mind - possession of ITS information that the assessee has...

3. 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...

4. Validity of assessment order - The 1st respondent, being a quasi-judicial authority, is bound to assign reasons in support of its decision, and cannot simply reject the...

5. Reopening of assessment u/s 147/148 - reasons to believe - The Tribunal upheld the validity of the reopening, considering the reasons recorded by the Assessing Officer...

6. Violation of principles of natural justice - There is no reason in the Order-in-Appeal for distinct decision given for Noticee No.1 while denying the same opportunity of...

7. Validity of Reopening of assessment u/s 147 - Failure to record the valid satisfaction - The assessment order passed, as a consequence is, liable to quashed. The...

8. Reopening of assessment u/s 147 - The entire exercise of re-opening would depend upon the reasons recorded by the AO and therefore the reasons recorded to re-open the...

9. Reopening of assessment u/s 147 - AO has recorded the reasons after getting the information from the Directorate of Information New Delhi and applied his own mind in...

10. Validity of reopening of assessment u/s 147 - Reasons to believe - The Assessing Officer, in the event of challenge to the reasons, must be able to justify the same...

11. 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...

12. Validity of re-assessment proceedings initiated u/s.148 - If the reasons recorded are silent or there is no reference of any material, then other extraneous material...

13. SVLDRS - If such is the scheme of the Act and the Rules and if the authority has to take a decision based on the records produced by the appellant / assessee, it goes...

14. Reopening of assessment u/s 147 - doctrine of res judicata - principal of consistency - Consistency does not mean putting iron fetters on the subsequent decision making;...

15. Reopening of assessment u/s 147 - share premium - As the reasons recorded does not quantify even an estimated amount of the alleged income which has escaped assessment...