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 March 2021 Year 2021 This

Reopening of assessment u/ 147 - Revenue has to prima facie ...

Income Tax

March 30, 2021

Reopening of assessment u/ 147 - Revenue has to prima facie indicate as to which of the conditions of Section 10(10D) of the Act are not fulfilled. In other words, how the amount in question is not exempted u/s 10(10D) - even an assessment under Section 143(1), in the form of an intimation, cannot be reopened under Section 147 unless some new / fresh tangible material comes into possession of the Assessing Officer, subsequent to the intimation under Section 143(1) of the Act. - HC

View Source

 


 

You may also like:

  1. Reopening of assessment u/s 147 - It is sufficient if any one of the conditions stipulated in Proviso clause to Section 147 is satisfied for reopening of assessment. -...

  2. Reopening of assessment u/s 147 - the claim of the assessee has been accepted treating the amount incurred on wooden shuttering and centering, revenue in nature - AT

  3. Fraudulent transactions - once credit is Prima facie taken on finished goods in the guise of scrap, fraudulent activity clearly surfaces, Prima facie case is in the...

  4. Reopening of assessment u/s 147 - upon reading the reasons to believe as a whole the ‘live link’ between the material in the form of the investigation report and the...

  5. Reopening of assessment u/s 147 - Change of opinion - As has always been observed, notice under Section 147 is not to be casually invoked to suit the convenience of the...

  6. 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...

  7. In the absence of any prima facie finding indicating the role of appellant in various frauds, suspension of Customs broker license will be harsh and unjustified - AT

  8. Reopening of assessment u/s 147 - The assessee has filed her return of income. AO has not made any analysis on what the assessee has claimed, how prima-facie the claim...

  9. Reopening of assessment u/s 147 - AO has recorded the reasons after getting the information from the Directorate of Information New Delhi and applied his own mind in...

  10. Exemption u/s 10(10D) on the maturity value of the Keyman Insurance Policy - Assessee received the amount on maturity of Keyman Insurance Policy after coming into effect...

 

Quick Updates:Latest Updates