Tag: reopening 148
Some tax evasion sought by assessee is a necessary condition for imposition of penalty u/s 271(1)(c). What has to be shown is whether, and if so, how, assessee can be said to have sought to evade tax. ABCAUS Case Law CitationABCAUS 3433 (2021) (01) ITAT Important case law …
Incorrect wrong and non-existing reasons recorded for reopening of assessment is non application of mind ABCAUS Case Law CitationABCAUS 3430 (2020) (12) Important case law relied upon by the parties:CIT vs. Atlas Cycle Industries 180 ITR 319Pr. CIT vs., SNG Developers Ltd., 404 ITR 312Shamshad Khan vs. ACIT …
Reopening notice u/s 148 on wrong presumption that assessee not filed return of income quashed by Tribunal as non application of mind ABCAUS Case Law CitationABCAUS 3423 (2020) (11) ITAT Important case law relied upon by the parties:Pr. CIT vs. RMG Polyvinyl (2017) 83 taxmann.com 348 (Delhi)/ 396 …
Addition made on the basis of cancelled money receipt found during search quashed as its contents was not confronted with issuer ABCAUS Case Law CitationABCAUS 3401 (2020) (10) ITAT Important case law relied upon by the parties: In the instant case, the assessee had challenged the order passed …
Without cogent reasons for belief towards escapement, even a non-filer can not be forced to file a return u/s 147. ITAT held notice u/s 147 bad in Law ABCAUS Case Law CitationABCAUS 3391 (2020) (09) ITAT Important case law relied upon by the parties:Shri Ravindrasinh N. Gohil vs. …
CIT need not to given separate reasons for his satisfaction in giving approval u/s 151 for reopening of assessment if reasons recorded by AO have a direct nexus with the information and formation of belief of income escapement. ABCAUS Case Law CitationABCAUS 3388 (2020) (09) ITAT Important case …
Second reopening notice u/s 148 issued without completing earlier reassessment proceedings is invalid ABACUS Case Law CitationABCAUS 3370 (2020) (08) ITAT Important case law relied upon by the parties:A.S.S.P. & Co. vs. CIT 172 ITR 274 (Mad)CIT vs. P. Krishnankutty Menon, 181 ITR 237 (Ker)Tao Publishing (P) Ltd. …
Assessee not permitted to change head of income as per his own sweet will and convenience. ITAT upheld addition following consistency rule ABCAUS Case Law Citation:ABCAUS 3341 (2020) (07) ITAT Important case law relied upon by the parties:Chennai Properties & Investments Ltd. v/s CIT, 373 ITR 673 (SC)Rayala …
Section 292BB not applicable to legal representative. High Court quashed reopening notice issued in the name of deceased assessee. ABCAUS Case Law Citation:ABCAUS 3332 (2020) (07) HC Important case law relied upon by the parties:Pr. Commissioner of Income Tax vs. Maruti Suzuki India Limited, (2019) 416 ITR 613 …
Non-rejection of explanation in Assessment Order amounts to AO accepting it hence no reopening on change of opinion. SC upholds High Court judgment ABCAUS Case Law Citation:ABCAUS 3322 (2020) (06) SC In a recent judgment, the Hon’ble Supreme Court had dismissed the Special Leave Petition filed by the …
