Reopening of assessment u/s 147 - corrigendum issued to make ...

Income Tax

February 23, 2023

Reopening of assessment u/s 147 - corrigendum issued to make changes in reaosns to belive - the action of the AO to be wholly untenable in law. By issue of corrigendum, the Assessing Officer has attempted to rectify the very fulcrum of believe derived qua the broker - The name of the broker was substituted in the corrigendum which has changed the tone of the entire basis for assumption of jurisdiction u/s 147 - AT

View Source

← Previous Next →

Reopening of assessment u/s 147 - corrigendum issued to make ...

Income Tax

February 23, 2023

You may also like:

Reopening of assessment u/s 147 - Reasons to belive - change of opinion - there was no new material which had come to the notice of the Assessing Officer and the entire...

Reopening of assessment u/s 147 - Change of opinion - The reopening of the assessment is nothing but a mere change of opinion on the part of AO. If the AO could not...

Reopening of assessment u/s 147 - reply to the audit objections - in fact AO applied his mind to the audit party objection and formed a clear opinion that there is no...

Reopening of assessment u/s 147/148 - failure to issue notice u/s 143(2) - reopening of assessment is not valid as the Income Tax Department has power to conduct the...

Reopening of assessment u/s 147 - reasons to believe - The High court observes that all the issues raised in the notice for reopening were indeed subject to discussion...

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...

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 - Applicability of section 145A - valuation of closing stock - Not open for AO to reexamine the entire issue which would be merely on the change of opinion.

Reopening of assessment u/s 147 - period of limitation - the issue relating to limitation is not a curable defect for the Revenue to invoke Section 292B of the Act.

Whether reopening of assessment u/s 147 is permissible on the basis of audit report - The Assessing Officer did not commit any jurisdictional error in issuing the notices - HC

Quick Updates: