Tag: income escaping assessment

Re-assessment order upheld despite where no addition was made for reasons on the basis of which the reassessment was initiated. In a recent judgment, Hon’ble Guwahati High Court has upheld the re-assessment order where no addition was made in regard to the reasons on the basis of which …

Opinion rendered by audit party alone can not be considered as belief of escapement of income which must be made directly and solely by the Income Tax Officer. In a recent judgment, the Hon’ble Supreme Court dismissed SLP of the Revenue against the judgment of the Bombay High …

Failure to file Form 10CCB with return do not constitute escapement of income – High Court In a recent judgment, the Hon’ble High Court has held that failure to electronically upload Form 10CCB along with its Return of Income within due date u/s 139 would not constitute a …

Belief of the Assessing Officer regarding escapement of income should be based on some tangible information In a recent judgment, the ITAT has held that belief of the Assessing Officer regarding escapement of income should be based on some tangible information and it should not be mere pretence …

What is registered e-mail address of assessee for issuance of notice u/s 148A(b)? Allahabad High Court explains, quashes re-assessment proceedings for notice sent to wrong email id. In a recent judgment, Hon’ble Allahabad High Court has explained the provisions of section 144B in determining the registered e-mail address …

Escapement of income u/s 147 has to be established with concrete information under amended Act– High Court In a recent judgment Hon’ble High Court has made an extensive comparison of the amended provisions of income tax act 1961 with respect to escapement of income and held that under …

Reasons on which reopening done must first survive to make addition on additional issues also – ITAT explains Explanation 3 to section 147 ABCAUS Case Law Citation:ABCAUS 3804 (2023) (09) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) and raised the …

Notice u/s 148 – at this stage what is required is a reason to believe and not to establish fact of escapement of income – Supreme Court upholds High Courts order ABCAUS Case Law CitationABCAUS 3600 (2022) (06) SC Important case law relied referred:Alliance Filaments Ltd. v. The …

Reasons to believe escapement of income should be for the same assessment Year. Reasons recorded for earlier years can not be the basis – ITAT In a recent judgment, the ITAT has held that reasons to believe escapement of income u/s 148 should be for the very assessment …

Reopening notice u/s 148 quashed as it did not mention source of information or reference to person giving information ABCAUS Case Law CitationABCAUS 3398 (2020) (10) ITAT Important case law relied upon by the parties:Meenakshi Overseas Private LimitedSignature Hotels Pvt. Limited vs ITO Reopening Notice u/s 148 quashed …