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Income Tax - Highlights / Catch Notes

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Validity of Reopening of assessment u/s 147 - Hon'ble Third ...

Income Tax

Validity of Reopening of assessment u/s 147 - Hon'ble Third Member concurred with the view taken by Hon'ble Judicial Member, who observed that, order dated 28/02/2014 passed by Ld. AO under section 143(3) read with 147 of the Act, without furnishing reasons recorded for initiating proceedings for reassessment under section 147 of the Act is void and of no effect. - AT

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  1. Assessment u/s 143(3) r.w.s. 147 - The annulment of assessment done under section 143(3) by the higher judicial authorities, itself, cannot be a ground for reopening - AT

  2. Validity of reopening of assessment - Absence of notice u/s 143(2) - non-issuance of notice shall not vitiate the assessment proceedings after due service of notice u/s 147 - HC

  3. Reopening of assessment u/s 147 - deduction u/s. 801A/IB - reassessment framed by the AO is bad in law for the three reasons.

  4. Reopening of assessment u/s 147 - It is clear that the primary facts necessary for assessment were also disclosed. It is settled law that the Assessing Officer is not...

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  6. Validity of reopening of assessment - proceeding u/s 147 initiated on the basis of satisfaction note recorded u/s 153C - curable defect u/s 292B - not challenging before...

  7. Validity of reopening of assessment u/s 144/147 - AO can very well assess as well as reassess the ROI if it is so done - AT

  8. Validity of reopening of assessment u/s 147 - assessee has prepared two balance sheets for this period under consideration. - order of reassessment sustained - HC

  9. Reopening of assessment u/s 147 - Once a query has been raised by Assessing Officer through the assessment proceeding and the assessee has responded to that query, it...

  10. Reopening of assessment u/s 147 - When the primary facts necessary for assessment are fully and truly disclosed, the Assessing Officer is not entitled to a change of...

 

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