Tag: reopening 148

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. …

Order passed by AO before expiry of the date of hearing fixed was in violation of the principles of natural justice and cannot stand to the test of law-High Court ABCAUS Case Law Citation: ABCAUS 2146 (2017) (12) HC The Challenge/Grievance: The petitioner was aggrieved by the impugned …

Reopening materials include subsequent years assessments scrutiny during the course of whose proceedings AO has occasion to see if the same, or same pattern of returns or claims were made. ABCAUS Case Law Citation: ABCAUS 2139 (2017) (12) HC The Challenge/Grievance: The Petitioner assessee by way of two …

Reopening for overlooking transactions with associated enterprises and not referring them to TPO for computation of at arms’ length income was not change of opinion – High Court   ABCAUS Case Law Citation: ABCAUS 2130 (2017) (11) HC The petitioner company was incorporated in the United Kingdom and …