reasons recorded Archives - Page 8 of 8

Not signing reasons recorded for reopening invalidated the notice u/s 148 as issued without recording reasons

administrator May 14, 2018 Income Tax, ITAT

Not signing reasons recorded for reopening invalidated the notice u/s 148. ITAT quashed the reopening as issue of the notice without recording reasons The appellant assessee had preferred the instant appeal against the order of the CIT(A) in upholding the reopening the assessment where reasons recorded for issuance …

Initiation of reopening u/s 148 by recording wrong facts not categorically rebutted by the Department illegal – ITAT

administrator May 9, 2018 Income Tax, ITAT

Initiation of reopening u/s 148 by recording wrong facts not categorically rebutted by the Department held to be arbitrary and bad in law – ITAT The instant appeal was filed by the appellant assessee against the order of the CIT(A) upholding the reassessment proceedings and re-assessment order passed …

Notice u/s 148 after four years by ACIT or DCIT requires sanction by CIT -High Court

administrator February 12, 2018 High Courts, Income Tax, Judgments

Notice u/s 148 after four years by ACIT or DCIT requires sanction by CIT under the provisions of section 151(1) before amendment by Finance Act 2015 ABCAUS Case Law Citation: ABCAUS 2196 (2018) (02) HC Prelude: Before the substitution by the Finance Act, 2015, section 151(1) of the …

Deposits per se in the bank account no basis of holding that income has escaped assessment.

administrator January 21, 2018 Income Tax, ITAT, Judgments

Deposits per se in the bank account no basis of holding that income has escaped assessment. Nothing can be added to or deleted from reasons recorded for reopening-ITAT ABCAUS Case Law Citation: ABCAUS 2171 (2018) (01) ITAT Important Case Laws Cited/relied upon by the parties: NTPC Ltd. vs. …

Approval by CIT even before recording reasons by AO for reopening u/s 147 not void -High Court

administrator December 25, 2017 High Courts, Income Tax, Judgments

Approval by CIT even before recording reasons by AO for reopening u/s 147 may reflect premature approval but need not render initiation of proceedings as non-est or void -High Court Prelude: Section 147 of the Income Tax Act, 1961 contains enabling provisions for re-assessment of income escaping assessment. …

Challenge to reopening u/s 147-Only reasons recorded are relevant not reasons given at a later stage

administrator September 8, 2017 High Courts, Income Tax, Judgments

Challenge to reopening u/s 147-Only reasons recorded relevant which the Court has to examine and not reasons or explanations given by the AO at a later stage – High Court ABCAUS Case Law Citation: ABCAUS 2066 (2017) (09) HC The Grievance: The assessee by the instant writ …

AO bound to furnish reopening reasons recorded us 147 within a reasonable time for initiation of reassessment proceedings u/s 147/148

administrator June 6, 2016 Income Tax, ITAT, Judgments

AO bound to furnish reopening reasons recorded us 147 within a reasonable time for initiation of reassessment proceedings u/s 147/148 This was held by ITAT in a recent Judgment ABCAUS Case Law Citation: 6611 2016 (06) ITAT Brief Facts of the Case: The assessee filed his return of …

Tag: reasons recorded