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 August 2019 Year 2019 This

Reopening of assessment u/s 147 - return processed u/s 143(1) - ...

Income Tax

August 9, 2019

Reopening of assessment u/s 147 - return processed u/s 143(1) - Addition u/s 68 - Mere disclosure of receipt of unsecured loans would not be sufficient to avoid reassessment in case where the return was accepted without scrutiny - Reopening valid

View Source

 


 

You may also like:

  1. Reopening of assessment u/s 147 - Addition u/s 68 - unexplained share premium - While recording the reasons for reopening the assessment, the AO did not even care to...

  2. Additions u/s 68 - Unsecured loans - partnership firm - Making addition of unsecured loans relating to the partnership firm in the hands of the assessee is bad in law...

  3. Additions u/s 68 - Merely by providing the Income Tax Return and PAN number is not enough to establish the creditworthiness and genuineness of the unsecured loans.

  4. Reopening of assessment u/s 147 - details available in the books of account for balance sheet or profit or loss account cannot absolve the assessee from his disclosure...

  5. Reopening of assessment u/s 147 - reason to believe - there was tangible material before the AO to reopen the concluded assessment as the assessee is claiming huge...

  6. Additions u/s 68 - unexplained unsecured loans - CIT(A) had rightly deleted the addition towards loans received from the companies in the same group

  7. Reopening of assessment u/s 147 - multiple entries in the information received from INV Wing - the balance sheet filed with the return of income clearly showed unsecured...

  8. 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...

  9. Addition u/s 68 - Since the assessing officer treated the unsecured loan as unaccounted received consequent interest was also disallowed. AO without any material...

  10. Unexplained credit u/s 68 - unsecured loan from registered NBFC and other companies - revenue failed to prove that loan were bogus - additions deleted.

 

Quick Updates:Latest Updates