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 February 2021 Year 2021 This

Reopening of assessment u/s 147 - Undisclosed purchase of land - ...

Income Tax

February 15, 2021

Reopening of assessment u/s 147 - Undisclosed purchase of land - the fact was discovered by the Assessing Officer on the basis of the report of District Registrar - the ingredients of first proviso to section 147 appear to be made out on the basis of materials on records. If that is so, the initiation of reassessment proceedings under section 148 beyond the limitation of four years, as prescribed under the first proviso to section 147 and also under section 149(1) (b) is not in breach of the statutory provisions - HC

View Source

 


 

You may also like:

  1. Whether reopening of assessment u/s 147 is permissible on the basis of audit report - The Assessing Officer did not commit any jurisdictional error in issuing the notices - HC

  2. 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...

  3. Reopening of assessment u/s 147 - difference pointed out by the DVO in his valuation report - There should be a live link between the material coming to the notice of...

  4. Reopening of assessment u/s 147 - - reopening based on report of the Investigation Wing - Assessing officer can rely on the report of DIT, Investigation Wing but at the...

  5. Validity of reopening of assessment u/s 147 - beyond 4 years but within 6 years - Report of the investigation wing might constitute tangible material. The decision to...

  6. Reopening of assessment u/s 147 - LTCG - Whether agricultural land not a ‘capital asset’? - the report itself contents vague observation and cannot be used as evidence...

  7. Reopening of assessment - Merely, because the audit report has opined that certain expenses were not allowable does not entitle the Assessing Officer to issue a notice u/s 148 - HC

  8. Reopening of assessment u/s 147 - Disallowance u/s 14A - If at all he has considered, he has not even passed the assessment order by ignoring the provisions of law, i.e....

  9. Reopening of assessment u/s 147 - Assessing Officer to usurp the jurisdiction to reopen the assessment - The first Assessing Officer has made the reassessment after...

  10. Reopening of assessment - opinion given by the District Valuation Officer is not per se information for the purpose of section 147 - Thus solely on the basis of the...

 

Quick Updates:Latest Updates