Tag: reopening 148
Reopening notice u/s 148 void if original assessment pending in appeal. ITAT quashed notice where proceedings u/s 153A were pending before CIT(A) ABCAUS Case Law Citation ABCAUS 2363 (2018) 06 ITAT The instant appeal was preferred by the assessee against the order of the Commissioner of Income Tax …
Notice u/s 148 issued by ITO having jurisdiction over bank where assessee had account was held legal in view that there could be concurrent jurisdiction of two or more AOs over a particular assessee in terms of sub-section Section 120 (3) The instant Petition had been filed for …
Limitation for reassessment u/s 150(1) has to be counted on the date of assessment order passed by the AO assessing the income in the wrong hands – ITAT This appeal by the assessee was directed against the order of CIT (A) upholding the legality of the reassessment made …
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 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 …
Meaning of findings and directions for limitation period of reopening notice u/s 150(1). ITAT quashed re-assessment as CIT-A made an observation not gave direction In the instant appeal the appellant assessee had challenged the proceedings initiated under section 147/148 of the Income Tax Act, 1961 (the Act) …
Reopening assessment on information of plot purchase quashed as lease deed was already with AO and the fact was known and considered by him in original assessment u/s 143(3) – HC The petitioner company had filed the instant writ petition praying for setting aside and quashing re-assessment proceedings initiated …
Reassessment upheld for non disclosure of Interest income set off against interest on loans and advances when production was not commenced ABCAUS Case Law Citation: ABCAUS 2262 (2018) (03) HC The appellant Revenue was aggrieved by the order of the first appellate authority and the Income Tax Appellate …
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 …
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. …