Validity of Reopening of assessment - accommodation entry - Tthe ...

Income Tax

June 28, 2023

Validity of Reopening of assessment - accommodation entry - Tthe search and seizure action under Section 132 of the Act was not carried out against the petitioner; such action was carried out against a third party - There seems to be weight in the submission made on behalf of the petitioner that the CBDT via its circular dated 01.08.2022 and 22.08.2022 has relaxed the rigour of the law. - CBDT has read into the provisions of 148A and Section 148 of the Act, the principles of natural justice. - HC

View Source

← Previous Next →

Validity of Reopening of assessment - accommodation entry - Tthe ...

Income Tax

June 28, 2023

You may also like:

Reopening of assessment - accommodation entries - nothing concrete was brought on record to substantiate that the assessee received any entry or made payment for...

Validity of the reassessment order u/s 147 - addition of bogus accommodation entry - AO has not even mentioned as to what was the nature of entry as given in the report...

Validity of assessment passed u/s 153A pursuant to search and seizure - The High Court has observed and held that, the assessee’s assessment for the relevant year stood...

Validity of reopening of assessment - It is well settled Law that validity of the reassessment proceedings is to be judged with reference to the reasons recorded for...

Reopening of assessment u/s 147 - ‘reasons to believe’ and ‘reasons to suspect’ - Merely on the basis of suspicion observed that the aforesaid entry might be a bogus...

Reopening of assessment u/s 147 - The High Court observed that, the expression “accommodation entry” and “bogus financial transaction” in the recorded reasons are not...

Reopening of assessment u/s 147 - Sham transaction - accommodation entries - during the search directors of the company admitted of providing accommodation entry, which...

Reopening of assessment u/s 147 - Reopening beyond period of four years - reasons to believe - Even assuming, Revenues’ case is petitioner should have disclosed that...

Reopening of assessment - applicability of time limitation - Exemption from levy of Entry Tax - The reopening of the assessment for the year prior to 2012-13 is beyond...

Reopening of assessment u/s 147 - reasons to believe - roving enquiry - accommodation entries - The exercise undertaken by revenue and the reasons to reopen the...

Validity of Assessment u/s 153A - in cases where the assessment or reassessment proceedings have already been completed and assessment orders have been passed, which...

Validity of reopening of assessment - notice against non existent entity / amalgamated company - Notices issued.

Assessment u/s 153A - While recording the statement during the course of search and seizure and survey operations, no attempt should be made to obtain confession as to...

Estimation of commission income - Providing Accommodation entries - Unexplained deposits/loans - when a person is engaged in the clandestine activities of providing...

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: