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 May 2021 Year 2021 This

Reopening of assessment u/s 147 - AO gets jurisdiction to reopen ...

Income Tax

May 7, 2021

Reopening of assessment u/s 147 - AO gets jurisdiction to reopen the assessment only after he records the reasons for reopening and thereafter, issues notice u/s 148 within the prescribed time and only on fulfilment of the conditions prescribed therein. None of these conditions have been fulfilled by the AO. No hesitation in holding that the re-assessment proceedings were not initiated validly and therefore, the re-assessment order is set aside. - AT

View Source

 


 

You may also like:

  1. Reopening of assessment u/s 147 - reason to believe - The reasons recorded were totally unfounded and consequently the jurisdictional notice under Section 148 issued by...

  2. Reopening of assessment u/s 147 r.w.s. 148 - Participation in the assessment proceedings after rejection of objections by the AO, without challenging the order of...

  3. Reopening of assessment - AO has invoked the jurisdiction u/s 147 of the Act without completing original enquiry initiated u/s 143(2) - such proceeding is irregular and illegal

  4. Reopening of assessment u/s 147 - No addition being loan given forming the main `reason for escapement of income’ u/s 147 of the Act has been made by the AO and instead,...

  5. 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...

  6. Reopening of assessment u/s 147 - reasons to suspect OR reasons to believe - Power u/s 147 cannot be exercised merely on reason of suspicion but there should be reason to believe.

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

  8. AO has power to consider any other income even beyond the reason for which the assessment was reopened u/s 147 – AT

  9. AO has power to consider any other income even beyond the reason for which the assessment was reopened u/s 147 – AT

  10. Reopening of assessment u/s 147 - reason to believe - the onus would be on the AO to provide reasons to disbelieve the bank statements and supporting documents for...

 

Quick Updates:Latest Updates