Tag: income escaping assessment
Reopening u/s 148 for mere non disclosure of bank account in ITR without forming belief that income has escaped assessment, bad in law ABCAUS Case Law Citation: ABCAUS 2952 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties G.K. N. Driveshafts (India) Ltd. vs. ITO (2003) …
AO should examined return of income and carry out initial investigation before coming to the conclusion that income has escaped assessment – ITAT ABCAUS Case Law Citation:ABCAUS 2680 (2018) (12) ITAT Important Case Laws Cited/relied upon:M/s. Allied Gems CorporationPCIT v/s M/s Shodiman Investments P Ltd.Narain Dutt Sharma v. …
No change of opinion when there was no earlier scrutiny assessment, therefore, the reopening of assessment was not bad in law-High Court ABCAUS Case Law Citation: ABCAUS 2502 (2018) 09 HC Important Case Laws Cited/relied upon by the parties: GKN Driveshafts India Ltd., vs. ITO, 203-259-ITR-19 The present …
In a recent judgment, ITAT Amritsar has upheld that the mere AIR information that deposits were made in a bank account do not indicate that these deposits constitute an income which has escaped assessment. Case Details: ITA No.129(Asr)/2015 Assessment year:2005-06 Ashwani Kumar vs. Income Tax Officer Date of Order/Judgment: 23/02/2016 Facts …
