Tag: reasons to believe
No addition made on account of reasons recorded for reopening, the reassessment, order passed was vitiated in law – ITAT ABCAUS Case Law Citation: ABCAUS 2939 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties: CIT v. Jet Airways (I) Ltd. (2011) 52 DTR 71 Shri …
Reassessment without fresh material with the Assessing Officer to believe that income has escaped assessment is invalid ABCAUS Case Law Citation: ABCAUS 2938 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties Income Tax Officer, Ward 2(4) Vs. Chetna Surana In the instant appeal, the assessee …
Reopneing-AO had to act on the basis of reasons to believe and not on reasons to suspect. ITAT quashed the reopening of the assessment. ABCAUS Case Law Citation: ABCAUS 2916 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties Aas per AIR information, assessee had sold …
Reopening for verification of purchases from hawala dealer-Supreme Court dismisses SLP of the Department challenging dismissal of appeal by High Court ABCAUS Case Law Citation:ABCAUS 2745 (2019) (01) SC The Hon’ble Supreme Court has dismissed the Special Leave Petition (SLP) of the Income Tax Department against the decision …
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. …
High Court explains mandate of “reasons to suspect” and “reasons to believe” in income tax search, quashed warrants of authorization for search and seizure of lockers ABCAUS Case Law Citation: ABCAUS 2659 (2018) (12) HC Important Case Laws Cited/relied upon: Pooran Mal Vs. the Director of Inspection (Investigation), …
Reopening on the basis of alleged VDIS declaration information from CBDT quashed when AO was not having declaration / documents while recording reasons ABCAUS Case Law Citation: ABCAUS 2530 (2018) 09 HC The appellant assessee had filed an appeal against the order of the CIT(A) challenging the initiation …
Forming Opinion on assumption of incorrect facts that income has escaped assessment. Reopening quashed as AO did not verify AIR information before taking any action against the assessee ABCAUS Case Law Citation: ABCAUS 2505 (2018) 09 ITAT The instant appeal was filed by the appellant assessee against the …
High court orders inquiry for manipulation of reasons to believe and role of the AO. Recommends strict disciplinary action for playing a subterfuge by back dating the records ABCAUS Case Law Citation: ABCAUS 2473 (2018) 08 HC Important Case Laws Cited/relied upon by the parties: Haryana Acrylic Manufacturing …
