Tag: Reopening us 147
Merely a judgment rendered can not be a basis / ground for reopening an assessment u/s 147 unless assessee fails to disclose material facts truly & fully ABCAUS Case Law Citation:ABCAUS 3108 (2019) (08) ITAT Important case law relied upon by the parties:CIT vs. M/s. Ansal Housing Finance …
Reopening for not replying to invalid and non est inquiry letter for cash deposited in bank quashed. Deposit per se cannot be income of assessee. ABCAUS Case Law Citation:ABCAUS 3106 (2019) (08) ITAT Important case law relied upon by the parties:Tajendra Kumar Ghai Vs ITO In the instant …
Reopening due to change in method of accounting for NPA quashed as it was notified in audited accounts. SC dismissed SLP of Revenue ABCAUS Case Law Citation:ABCAUS 3069 (2019) (07) SC The Assessing Officer (AO) had initiated re-assessment proceedings against the respondent bank under Section 147 read with …
No addition made on account of reasons recorded for reopening, the reassessment, order passed was vitiated in law – ITAT ABCAUS Case Law Citation: ABCAUS 2939 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties: CIT v. Jet Airways (I) Ltd. (2011) 52 DTR 71 Shri …
Reopening of assessment for past years on account of the cancellation of Registration u/s 12AA is not permissible unless registration was obtained by fraud, collusion or concealment of any material fact ABCAUS Case Law Citation:ABCAUS 2742 (2019) (01) HC The Petitioner had filed the instant Petition against the …
Tribunal declined to issue direction to AO to reopen cases under section 147 as Department have enough powers u/s 147, 263 and 154 to tax escaped income ABCAUS Case Law Citation: ABCAUS 2701 (2019) (01) ITAT Important Case Laws Cited/relied upon: ITO Vs. Muralidhar Bhagwan das 52 ITR …
DVO Report based on mere estimate not sufficient information for the purpose of reopening assessment u/s 147. ITAT deleted addition u/s 69 ABCAUS Case Law Citation:ABCAUS 2675 (2018) (12) ITAT Important Case Laws Cited/relied upon:ACIT vs. Dhariya Construction Co. (2010) 328 ITR 515 (SC) ITO vs. Santosh Kumar …
Reopening of assessment which is completed u/s 143(1) not sustainable without there being any tangible material coming to the knowledge of AO – ITAT ABCAUS Case Law Citation: ABCAUS 2650 (2018) (11) ITAT Important Case Laws Cited/relied upon: Orient Craft Ltd 354 ITR 536 (Delhi), The assessee’s appeal …
Reopening notice after 4 year when escaped income less than 1 lakh is time barred and not tenable in the eyes of law – ITAT ABCAUS Case Law Citation: ABCAUS 2608 (2018) (11) ITAT Important Case Laws Cited/relied upon: Amarnath Agrawal vs. CIT & Anr. (2015) 371 ITR …
Reopening on the basis of alleged VDIS declaration information from CBDT quashed when AO was not having declaration / documents while recording reasons ABCAUS Case Law Citation: ABCAUS 2530 (2018) 09 HC The appellant assessee had filed an appeal against the order of the CIT(A) challenging the initiation …