Validity of reopening of the assessment u/s 147 - a perusal of ...

Assessment Reopening u/s 147 Challenged Due to Vague Reasons and Lack of Coherent Information.

April 17, 2020

Case Laws Income Tax AT

Validity of reopening of the assessment u/s 147 - a perusal of the reasons would indicate that there is no coherence between the information available with the AO visà-vis transaction of the assessee, and formation of belief that income has escaped the assessment. These reasons are vague and inconclusive - AT

View Source

← Previous Next →

Validity of reopening of the assessment u/s 147 - a perusal of ...

Assessment Reopening u/s 147 Challenged Due to Vague Reasons and Lack of Coherent Information.

April 17, 2020

Case Laws Income Tax AT

You may also like:

The assessing officer (AO) recorded vague reasons for reopening the assessment, merely stating that information was received about the assessee depositing cash of Rs. 10...

Formation of belief by the Assessing Officer that income has escaped assessment is the crux of the reopening provision. The reasons recorded must be based on tangible...

The High Court quashed the reopening of assessments u/s 148, holding that the reasons recorded by the Assessing Officer were cryptic, vague, lacking nexus, and...

Reopening of assessment u/s 147 - ‘reasons to believe’ and ‘reasons to suspect’ - Merely on the basis of suspicion observed that the aforesaid entry might be a bogus...

Reopening of assessment u/s 147 - In case incorrect, wrong and non-existing reasons are recorded by the A.O. for reopening of the assessment and A.O. failed to verify...

Reopening of assessment u/s 147 - Reopening based on audit objections - reasons to believe - High Court observed that, reopening an assessment beyond four years requires...

Reopening of assessment u/s 147 - Reason to believe - Addition u/s.68 - unsecured loans obtained - the nexus between the alleged material, i.e. the investigation report...

Reopening of assessment u/s 147 was not valid as the Revenue Audit Report merely pointed out discrepancy in computation method and opined on applicability of Section...

The case involves the validity of reopening of assessment u/s 147/148 based on reasons to believe, where the head of income was changed from business to income from...

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...

The High Court addressed the issue of reopening assessment u/s 147 of the Income Tax Act. The case involved the alleged absence of a "reason to believe" and a "live...

Reopening of assessment u/s 147 - reason to believe - the Ld. AO has absolutely changed his view which was formed initially and which was formed while concluding the...

Reopening of assessment u/s 147 - reasons to believe - no income under the head income from House Property has been offered by the assessee during the year under...

Reopening of assessment u/s 147 - reopening after expiry of four years - Original assessment have been passed under section 143(3) on Dated 14.12.2011 and A.O. recorded...

Reopening of assessment u/s 147 - reasons were recorded on receipt of information from Investigation Wing - Apart from this information, which has been taken as gospel...

Quick Updates: