Tag: reopening 148
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 …
Reopening notice u/s 148 quashed as Revenue was indulging in fishing by way of scrutinizing again something that had been specifically gone into- High Court ABCAUS Case Law Citation: ABCAUS 2121 (2017) (11) HC Important Case Laws Cited/relied upon by the parties: Phool Chand Bajrang Lal & …
Reopening notice us 148 against amalgamated company was void ab initio as on that day the company was not in existence. Even if Department was not aware of that fact, will not make any difference to the legal position – High Court ABCAUS Case Law Citation: ABCAUS 2013 …
Reopening reasons must explain what material was not disclosed which the assessee ought to have disclosed. Explanation-1 of section 147 do not relieves AO of burden of demonstrating the assessee’s failure. Delhi High Court explains the jurisdictional requirement of reopening of income tax cases u/s 14/148 post amendment …
Notice us 148 not invalid if assessee do not challenge it. Settled law is that if assessee chooses not to challenge notice issued it is to be treated as valid – ITAT ABCAUS Case Law Citation: ABCAUS 1210 (2017) (04) ITAT The Grievance: The appellant assessee company was …
