Tag: reasons recorded

It is incumbent upon AO to decide the case u/s 148A(d) on the basis of the material on record including the reply of the assessee – High Court In a recent judgment, the Himanchal Pradesh High Court has held that it is incumbent upon the Assessing Officer to …

Jurisdiction assumed u/s 148 on borrowed satisfaction without any live link between information and material on record – Supreme Court declined to entertain Department  In a recent judgment, Hon’ble Supreme Court declined to interfere with High Court order quashing notice under section 148 when Assessing Officer assumed jurisdiction …

A fresh notice u/s 148 is required if AO wants to assessee any other income other than as per reasons recorded.  In a recent judgment, the Hon’ble Delhi High Court has reiterated that a fresh reopening notice u/s 148 is required if AO wants to assessee any other …

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 …

Notice u/s 148 invalid as reasons recorded incorrect information that return was processed u/s 143(1) and no scrutiny assessment was done under Section 143(3) of the Act. In a recent judgment, Hon’ble Supreme Court has dismissed a SLP of the Revenue against the judgment of the Gujarat High …

Assessment framed u/s 147 without providing assessee copy of reasons to believe despite specific request was without valid assumption of jurisdiction – ITAT In a recent judgment, the ITAT Raipur has held that assessment framed u/s 147 without giving assessee copy of reasons to believe despite specific request …

Quashing of Notice u/s 148 as AO did not apply mind to information received – SC dismissed Special Leave Petition (SLP) of Income Tax Department   In a recent judgment, Hon’ble Supreme Court has upheld the quashing of notice u/s 148 by the Bombay High Court where the …

Third party statement taken after recording reasons cannot form basis of Assessing Officer’s “reasons to believe” to reopen the assessment – ITAT  In a recent judgment, ITAT Delhi has held that third party statement recorded subsequent to the reasons recorded, cannot form basis of Assessing Officer’s “reasons to …

Section 5A of Income Tax Act is applicable only to division of income between spouses governed by Portuguese Civil Code. Section 5A does not deal with the division of assets. In a recent judgment, Bombay High Court has held that Section 5A of Income Tax Act 1961 is …