Reopening of assessment u/s 147 - since the proposed re-opening ...

Income Tax

March 22, 2022

Reopening of assessment u/s 147 - since the proposed re-opening has been issued after expiry of four years of the end of the relevant assessment year, proviso to Section 147 of the Act would apply in as much as the Revenue has to show that there has been fault on the part of petitioner to truly and fully disclose material facts required for assessment. Not only as Revenue not made any such allegations in the reasons for re-opening, we cannot even cull out from the reasons recorded that Revenue has even suggested that there has been failure on the part of petitioner to disclose truly and fully material facts. - HC

View Source

← Previous Next →

Reopening of assessment u/s 147 - since the proposed re-opening ...

Income Tax

March 22, 2022

You may also like:

Reopening of assessment u/s 147 - reopening after expiry of four years - Original assessment have been passed under section 143(3) on Dated 14.12.2011 and A.O. recorded...

Reopening of assessment before expiry of 4 years - no sufficient reason to believe - Merely because reopening of assessment was before expiry of four years from the end...

Validity of reopening of assessment u/s 147 - The tribunal sided with the assessee on the key issue of the legality of the re-assessment notice under section 148. It was...

Reopening of assessment u/s 147 - Reassessment after expiry of four years and just prior to expiry of six years from the end of the relevant assessment year -...

Reopening of assessment u/s 147 - bogus purchases - to what exact income had escaped assessment may be open for argument, nevertheless, would not be a ground to quash...

Reopening of assessment u/s 147 - Sham transaction of gift - No new material surfaced during the reassessment proceedings on which the AO could have formed a requisite...

Validity of Reopening of assessment u/s 147 - The Tribunal emphasized the principle that for reassessment under Section 147 of the Income Tax Act, the onus is on the...

Reopening of assessment u/s 147 - reasons are communicated and the reasons would show that the expenditures are expressly disallowed under the deeming fiction created by...

Reopening of assessment u/s 147 - Notice after the expiry of period of four years - Admissibility of deduction u/s 80I - The issue was already considered by the AO - In...

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...

Quick Updates: