Reopening of assessment u/s 147 - penny stock Purchases - There ...

Income Tax

November 25, 2022

Reopening of assessment u/s 147 - penny stock Purchases - There is not even whisper in the reasons recorded about dealing in shares of Nyssa Corporation Ltd. or the Assessee had taken any accommodation entry on this script. AO is referring to altogether different script which has not been under taken by the Assessee at all. - AT

View Source

← Previous Next →

Reopening of assessment u/s 147 - penny stock Purchases - There ...

Income Tax

November 25, 2022

You may also like:

Reopening of assessment u/s 147 - Unexplained cash credit - penny stock purchases - AO was aware of the fact that the script of Shreenath was allegedly a penny stock...

Revision u/s 263 - penny stock transactions - In the instant case, there were three specific reasons for which the scrutiny was carried out but there is not a whisper by...

Reopening of assessment u/s 147 - penny stock purchases - “new ground” v/s “new reasons” - We take the notice of the fact that, the copy of the approval has been...

Reopening of assessment u/s 147 - setting off of the interest expenses under Section 57 - The figures mentioned in the reason for reopening of assessment are also found...

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

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

Reopening of assessment u/s 147 - sufficiency or inadequacy of reasons - There is no whisper in the impugned order as regards any failure on the part of petitioner to...

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.

Reopening of assessment u/s 147 - Addition u/s 68 - unexplained share premium - While recording the reasons for reopening the assessment, the AO did not even care to...

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...

Quick Updates: