Tag: Reopening us 147
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 …
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 …
Reopening u/s 147 /148 for escaped interest income upheld when AO by oversight failed to assess interest income duly disclosed in the books of accounts ABCAUS Case Law Citation:ABCAUS 3256 (2020) (02) HC Important case law relied upon by the parties:Commissioner of Income-Tax v. Corporation Bank Ltd. (2002) …
Reopening quashed as AO not recorded reasons of assesse’s failure to disclose material facts fully and truly but notice u/s 148 was issued on change of opinion ABCAUS Case Law Citation:ABCAUS 3236 (2020) (01) ITAT Important case law relied upon by the parties:Sadbhav Engineering Ltd. vs. DCITCIT Vs. …
Reassessment u/s 148 due to credit card payment. ITAT directed AO to delete the addition made in view of returned income of the assessee ABCAUS Case Law Citation:ABCAUS 3197A (2019) (12) ITAT The instant appeal was filed by the assessee against the order of the CIT(A) in the …
Reopening for escaped FDR income upheld when in original assessment profits was estimated only on contract income ignoring interest income ABCAUS Case Law Citation:ABCAUS 3140 (2019) (09) ITAT Important case law relied upon by the parties:ACIT vs. Rajesh Jhaveri Stock Brokers P. Ltd.’ 2007 291 ITR 500Raymond Woolen …
Affixture of income tax notice-essential conditions, procedure and law explained by ITAT. Unless notice is served on proper person in manner prescribed, service is insufficient and invalidates the jurisdiction of AO ABCAUS Case Law Citation:ABCAUS 3128 (2019) (08) ITAT Important case law relied upon by the parties:Vankat Naicken …
Reopening done at the insistence of CIT held as change of opinion and was vitiated in law as it did not satisfy the legal requirement of Section 147 of the Act ABCAUS Case Law Citation:ABCAUS 3124 (2019) (08) HC Important case law relied upon by the parties:Larsen and …