Reopening of assessment u/s 147 - assessee has availed cash loan ...

High Court Dismisses Petition on Section 147 Reassessment; Detailed Investigation Required Beyond Writ Jurisdiction.

September 2, 2023

Case Laws Income Tax HC

Reopening of assessment u/s 147 - assessee has availed cash loan - To test the correctness of the order, it is necessary that the disputed question of facts have to be thoroughly analyzed. There are several stake holders in the entire process which requires deeper probe into the matter and such an exercise cannot be done in exercise of writ jurisdiction. - Petition dismissed - HC

View Source

← Previous Next →

Reopening of assessment u/s 147 - assessee has availed cash loan ...

High Court Dismisses Petition on Section 147 Reassessment; Detailed Investigation Required Beyond Writ Jurisdiction.

September 2, 2023

Case Laws Income Tax HC

You may also like:

Reassessment proceedings after information received from Director of Investigation regarding bogus/accommodation entries - HC

Addition u/s 68 - In the given case, AO has not carried out any useful investigation but merely followed the previous pattern of investigation and completed the...

Money Laundering - Seeking grant of anticipatory bail - Hawala transactions - the detailed investigation is required to be conducted to know about the officials of the...

Procedure relating to sanction, post-audit and review of refund claims - Guidelines issued to ensure uniformity in issuance of speaking order for refund - Details...

Unexplained cash credits u/s.68 - Penny stock purchases - The modus operandi involving operators, intermediaries and the beneficiaries have already been detailed in the...

Reassessment order u/s 147 r.w section 148 of the Act - The assessing officer is not required to consider the objections in detail - HC

CBDT amended Income Tax Rules 1962 requiring non-resident entities with liaison offices in India to file annual statement Form 49C within 8 months from end of financial...

Reversal of Input Tax Credit - proper verification of the transactions of selling/purchasing dealers to ensure that there is a match of the details of the transaction or...

The High Court held that the reassessment order dated 12.05.2023 and subsequent proceedings were invalid as they were beyond the statutory limitation period prescribed...

The High Court quashed the reassessment notices issued u/s 148 and the consequent initiation of reassessment proceedings, ruling in favor of the assessee. The key points...

Money Laundering - proceeds of crime - Jurisdiction to investigate - The Apex Court time and again has frowned upon interference into investigations conducted by the...

Scope of rectification u/s 154 - Allowing the rectification application CIT(A) admitted the claim of expenditure - The ITAT concluded that the question of comparables in...

This circular from SEBI provides the periodic reporting format for Research Analysts and Proxy Advisers. Key points: - Research Analysts (RAs) are required to furnish...

HC determined CCI's jurisdiction to initiate investigation under Section 26(1) of Competition Act, 2002 requires establishing a prima facie case of anti-competitive...

The assessee dealt with a penny stock, and the Assessing Officer (AO) failed to conduct proper inquiry during reassessment proceedings. The Principal Commissioner of...

Quick Updates: