Reopening of assessment u/s 147 - Since the present assessment ...

Reassessment u/s 147 Invalid as Tribunal Previously Rejected Reasons; Current Assessment Order Quashed.

May 13, 2021

Case Laws Income Tax AT

Reopening of assessment u/s 147 - Since the present assessment order is framed on the very same reasons, which were considered by the Tribunal (supra) while quashing the order, once the reasons have not been accepted by the Tribunal, the same cannot be held to be good for the present assessment. - AT

View Source

← Previous Next →

Reopening of assessment u/s 147 - Since the present assessment ...

Reassessment u/s 147 Invalid as Tribunal Previously Rejected Reasons; Current Assessment Order Quashed.

May 13, 2021

Case Laws Income Tax AT

You may also like:

HC quashed reassessment proceedings initiated under Section 147 after expiry of 4-year limitation period. Court found no failure by assessee to disclose material facts...

The Appellate Tribunal considered the validity of reassessment proceedings u/s 147 regarding unexplained investment u/s 69 and whether it is taxable in the current...

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...

The assessee's appeal against the Commissioner's revision order u/s 263 was dismissed. The Tribunal held that the Assessing Officer (AO), after reopening the assessment...

The Delhi High Court examined the validity of reassessment proceedings u/s 147 after a four-year lapse. The court emphasized the requirement of "reasons to believe" for...

The assessment officer (AO) initiated reassessment proceedings u/s 147 of the Act, citing Section 147(b) as the basis for approval, which is a non-existent provision....

HC held that the AO's reassessment notice under Section 147 was invalid. The AO mechanically recorded reasons based on third-party information without providing...

Reopening of assessment u/s 147 - Earlier, ITAT remanded the matter back requesting the AO to provide reasons for initiating reassessment proceedings. - AO must have...

HC allowed the petitioner's appeal challenging reassessment under Section 147, finding the Assessing Officer (AO) lacked legitimate "reason to believe" income had...

Reassessment u/s. 147 - non availability of file containing reasons to believe - there is no material brought to our notice that reasons were recorded before issue of...

Reopening of assessment u/s 147 - It is well established that the reasons recorded by the AO cannot be further be substituted or added or deleted - We are of the view...

Section 147/148 proceedings can only be initiated based on the original reasons recorded for forming the opinion of escapement of income. The Assessing Officer cannot...

Validity of reopening of assessment u/s 147 - Reason to believe - Addition u/s 69C on account of the capital introduced by the partner and unsecured loans - The Tribunal...

Validity of the reassessment proceeding framed u/s 147 - Admittedly, the addition on account of bogus purchases has been made by the AO which is sufficient enough for...

HC upheld tax reassessment proceedings for AY 2009-2010, finding valid jurisdictional grounds for reopening assessment. The court determined that information about bogus...

Quick Updates: