Home Highlights August 2012 Year 2012 This

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1. Reopening of assessment u/s 147 - Initiation of reassessment proceedings, u/s.148 of the Act and issued notice to the assessee was based on valid reason on the strength...

2. Reopening of assessment u/s 147 - Earlier, ITAT remanded the matter back requesting the AO to provide reasons for initiating reassessment proceedings. - AO must have...

3. Validity of the assessment order passed u/s 147 r.w.s. 143(3) - post search assessment - in the case on hand the pending reassessment proceedings u/s 147 got abated by...

4. Validity of reassessment proceedings - non-issue of the statutory notice u/s 143(2) - The Appellate Tribunal found that the AO had not issued the statutory notice under...

5. Unreasonable delay in completion of reassessment - It is thus clear that even if the notice was issued within the prescribed period of limitation,...

6. Reassessment u/s 147 - validity of notice - reasons for reopening the assessment have been recorded by the jurisdictional AO viz. the Dy. CIT, Circle 2, Jamnagar but the...

7. Validity of reassessment proceedings for non-issuance of statutory notice u/s 143(2) - Since notice u/s 143(2) of the Act was not issued to the assessee, before...

8. Penalty u/s 271(1)(c) - combined order of penalty for additions made vide order u/s 143(3) r.w.s. u/s 153A and u/s 143(3) r.w.s. 147 - AO required to initiate two...

9. Reopening of assessment u/s 147 - non issue of notice issued u/s 143(2) - In absence of any notice issued u/s 143(2) after receipt of fresh return submitted by the...

10. Jurisdiction - power to issue a notice u/s 61(3), once returns have been submitted by the assessee before initiating action u/s 74 of the Act - The scrutiny proceedings...

11. Revision u/s 263 - impugned notice which seeks to give effect to an order u/s 263 for revision u/s 143(3) falls u/s 153(3) and not u/s 153 (2A) - there is no limitation...

12. Assessment u/s 144C - AO issued notice of demand at stage of draft assessment order - without following the procedure as contemplated u/s. 144C of the Act the AO issued...

13. Penalty u/s 271(1)(c) - non-compliance of notice issues - if the quantum proceedings itself are declared to be bad in law and quashed , then any non compliance on the...

14. Reopening of assessment u/s 147 - Bypassing the option to initiate scrutiny assessment u/s 143(3) - The assessment proceedings would cease to be pending either by...

15. Reopening of assessment u/s 147 - unexplained cash payment - Two notices issued u/s 148 - it is a case where pending conclusion of the first reassessment proceedings,...