Tag: reasons to believe

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 …

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 …

AO whether obliged to decided pointwise objection of assessee in response to notice u/s 148A(b) – Supreme Court admits SLP of the assessee  In a recent judgment, the Hon’ble Allahabad High Court had held that all merit objections raised by the assessee in response to a notice issued …

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 …

Non supplying “reasons to believe” to assessee made the assessment lacking valid assumption of jurisdiction – ITAT In a recent judgment, ITAT Raipur has held that when the Assessing Officer (AO) despite specific request of the assessee failed to provide to him a copy of the “reasons to …

Information from Investigating Wing cannot be sole basis for forming belief that income escaped assessment – High Court In a recent judgment, Hon’ble Delhi High Court has held that information received from Investigating Wing cannot be the sole basis for forming a belief that income of the assessee …

Reopening on incorrect reasons recorded that assessee not filed return of income quashed by ITAT In a recent judgment, ITAT Guwahati has quashed the reopening done on the factually incorrect reasons recorded by the AO that assessee had not filed return of income. ABCAUS Case Law Citation:4195 (2024) …

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 …