Reopening of assessment u/s 147 - Lack of full disclosures - ...

Income Tax

June 18, 2022

Reopening of assessment u/s 147 - Lack of full disclosures - Time given vide SCN dated 13.09.2021 is too short - To be noted, vide paragraph 3 of the SCN, writ petitioner-assessee was called upon to respond by 23:59 hours on 16.09.2021. 13.09.2021 is a Monday and obviously 16.09.2021 is Wednesday and that fairly three working days. It is clearly insufficient. - the impugned assessment order made by the first respondent is set aside on the grounds of lack of opportunity / specificity - Matter restored back - HC

View Source

← Previous Next →

Reopening of assessment u/s 147 - Lack of full disclosures - ...

Income Tax

June 18, 2022

You may also like:

Faceless Assessment - Whether it cannot be gainsaid that one day time given qua SCN is too short - The first point urged i.e., a mere one day time qua SCN under the...

Reopening of assessment u/s 147 - The duty is cast upon the assessee to make true and full disclosure of the facts at the time of original assessment. The duty of the...

Assessment u/s. 144C(13) - time limit for completion of the assessment order u/s. 144C(13) - The relaxation under TOLA would not be applicable to the assessment orders...

Reopening of assessment u/s 147 - The two situations are distinct and different. Thus, where the transaction itself on the basis of the subsequent information, is found...

Faceless assessment u/s 144B - time-limit to complete the assessment - Even if for a moment we hold that Relaxation Act is applicable to petitioner’s case, the...

Reopening of assessment u/s 147 - reason to believe - Transaction of purchases being made by the petitioner from M/s NSE had been found to be bogus one on the basis of...

Validity of Reopening of assessment u/s 147 - The order of learned Judge suggesting that the question of whether there was true and full disclosure is still open, again...

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...

Reopening of assessment u/s 147 - Time limit for notice - Scope of new provision section 148A - The High Court following the decision of Apex Court has held that, since...

Reopening of assessment u/s 147 - Time limit for notice - since the time period for issuance of reassessment notice for assessment year 2013-14 stood extended until 30th...

Quick Updates: