Tag: Reopening us 147
Escapement of income u/s 147 has to be established with concrete information under amended Act– High Court In a recent judgment Hon’ble High Court has made an extensive comparison of the amended provisions of income tax act 1961 with respect to escapement of income and held that under …
Allegation of Paper Companies without further facts insufficient to reopen assessments – SLP dismissed by Supreme Court. High Court laid down guidelines for reopening of assessments u/s 147 and 148 Recently the Supreme Court dismissed the SLP filed by the Income Tax Department against the judgment of the …
Reopening due to bank’s mistake in reporting PAN of partnership firm in bank account of proprietorship– ITAT deleted additions made In a recent judgment, ITAT has deleted additions made in reopening proceedings based on reporting of cash deposit against PAN of partnership in place of proprietorship. ABCAUS Case …
No re-opening notice could be issued to society after registration u/s 12A for earlier assessment years in terms of 3rd Proviso of section 12A(2) – SLP dismissed by Supreme Court ABCAUS Case Law Citation:ABCAUS 3824 (2023) (12) SC Important Case Laws relied upon by parties:Commissioner of Income-Tax (Exemptions) …
Reasons on which reopening done must first survive to make addition on additional issues also – ITAT explains Explanation 3 to section 147 ABCAUS Case Law Citation:ABCAUS 3804 (2023) (09) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) and raised the …
Manner and contents of assessment order framed not determinative whether or not reopening is a case of change of opinion – Supreme Court ABCAUS Case Law CitationABCAUS 3653 (2023) (02) SC Important Case Laws covered:Commissioner of Income Tax v. Kelvinator India Limited reported in 320 ITR 561 SCCommissioner …
Reassessment proceedings without sending Inspector to serve notice personally or by affixture where notice served by speed post was returned by Postal Authorities ABCAUS Case Law CitationABCAUS 3583 (2022) (02) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming the …
Supreme Court uphold quashing of reassessment notice issued beyond four years without failure of assessee to disclose fully & truly all material facts In a recent order, the Hon’ble Supreme Court has upheld the order of the High Court in quashing the reassessment notice issued beyond the period …
No addition can be made on issues for which case was not reopened. Reassessment quashed as addition made on issues not recorded in reasons. The case of the appellant assessee in this case was when no addition has been made on the issue for which the case was …
Notice u/s 148 issued prior to approval granted by competent authority bad in law In the instant case, the assessee had challenged the order passed by the CIT(A) in upholding the assessment order passed u/s 143(3) r.w.s. 147 of the Income Tax Act, 1961 (the Act) in as …