Reopening of assessment u/s 147 - Taxability of capital gains in ...

Section 147 Reassessment Deemed Unfair for Targeting Legal Representative with Disproportionate Tax on Shared Property Gains.

June 15, 2023

Case Laws Income Tax AT

Reopening of assessment u/s 147 - Taxability of capital gains in the capacity of a Legal Representative of deceased assessee [mother] - one of the co-owners is solely picked out - it would be travesty of justice if one of the co-owners is solely picked out and an enhanced income for the same property is attributed in his hands. - AT

View Source

← Previous Next →

Reopening of assessment u/s 147 - Taxability of capital gains in ...

Section 147 Reassessment Deemed Unfair for Targeting Legal Representative with Disproportionate Tax on Shared Property Gains.

June 15, 2023

Case Laws Income Tax AT

You may also like:

Reopening of assessment u/s 147 or assessment u/s 153C - reassessment was made based on the materials found in the course of search conducted on third party - The...

Validity of order passed u/s. 147 against deceased assessee - Citing Section 159(2) of the Act and judicial precedents, the Tribunal emphasized that no order can be...

Reopening of assessment u/s 147 - notice against dead assessee - no notice issued to legal representative - No notice whatsoever was issued to the legal representative/s...

Validity of reassessment u/s 147 - Action of the AO in reopening the case under Section 147 of the Act as also of service of notice u/s 148(1) of the Act on the assessee...

The HC upheld the Appellate Tribunal's decision that reassessment under Section 147 was invalid. Although Explanation 1 to Section 147 states that mere production of...

The High Court held that the jurisdictional facts necessary to invoke Section 147 for reassessment were absent. The reassessment was initiated after the four-year...

ITAT held that where documents seized during a search pertain to a third party, the mandatory procedure is to proceed under Section 153C, not Section 147. The AO's...

The HC ruled that a GST demand against a deceased individual without issuing a show cause notice to their legal representative is invalid. While Section 93 of the GST...

Assessment proceedings against one of the legal heirs - deceased/assessee had admittedly more than one legal representatives - Despite the legal heir's explicit...

Reopening proceedings against deceased assessee - proceedings against legal representatives of the deceased assessee - The High court observed that the legal...

Validity of the assessment order passed u/s 147 r.w.s. 143(3) - post search assessment - in the case on hand the pending reassessment proceedings u/s 147 got abated by...

Reassessment proceeding under Section 147 was made to form change of opinion and therefore, it would clearly amount to reviewing the original order of assessment u/s 147...

Penalty on the legal representatives - legal fiction comes into operation - no penal proceedings have been initiated against the assessee, when he was alive. Assessment...

Validity of Reopening of assessment u/s 147 - eligibility of reasons to believe - initiation of reassessment proceedings u/s.147 of the Act, issuance of notice u/s.147...

Validity of assessment made u/s 147 instead of u/s. 153C - Addition as unexplained cash credit u/s. 68 - Upon examination, the ITAT Delhi found that the seized material,...

Quick Updates: