Reassessment judiciary-2

Section 147: Manner of recording satisfaction not prescribed

Shri Sushil Kumar Golecha Vs ACIT (ITAT Indore)

Shri Sushil Kumar Golecha Vs ACIT (ITAT Indore) The law is well settled where the issue of jurisdiction of assessing authority is concerned, if the jurisdiction assumed is not in accordance with law, then it cannot be cured or ignored under the provisions of section 292B of the Act. In our considered view, the assumption […]...

Read More

Reopening U/s. 148 without approval of designated authority is void ab initio

DCIT Vs Bhaijee Portfolio Pvt. Ltd. (ITAT Delhi)

DCIT Vs Bhaijee Portfolio Pvt. Ltd. (ITAT Delhi) In this From the records, it can be clearly seen that the notice has been issued prior to the approval. Thus, reopening u/s 148 is without the approval of the designated authority and as such reassessment itself is bad and without any jurisdiction. The mandatory conditions of […]...

Read More

Revisionary power U/s. 263 cannot be exercised on ground not covered in Re-Opening

Gulab Badgujar (HUF) Vs CIT (Central) (ITAT Pune)

Gulab Badgujar (HUF) Vs CIT (Central) (ITAT Pune) The question which arises is the exercise of revisionary jurisdiction by the Commissioner of Income Tax under section 263 of the Act against the order passed under section 143(3) r.w.s. 147 of the Act, wherein the assessment proceedings were re-opened on specific reasons recorded for re-op...

Read More

Reopening in absence of fresh tangible material to form an opinion is invalid

Best Cybercity (India) Pvt. Ltd. Vs. ITO (Delhi High Court)

Best Cybercity (India) Pvt. Ltd. Vs. ITO (Delhi High Court) In the present case all the material that was necessary for the AO to form an opinion regarding the transaction involving the Assessee and PACL was already available with the AO. There was no fresh tangible material on the basis of which the AO could […]...

Read More
Posted Under: Income Tax |

Reopening notice based on satisfaction of some other authority is invalid

South Yarra Holdings Vs ITO (Bombay High Court)

South Yarra Holdings Vs ITO (Bombay High Court) It is a settled position in law that re-opening of an assessment has to be done by an Assessing Officer on his own satisfaction. It is not open to an Assessing Officer issue a reopening notice at the dictate and/or satisfaction of some other authority. Therefore, on […]...

Read More

Section 148 notice without Approval of Competent Authority is invalid

ITA Vs Kuber Fertilizers Pvt. Ltd. (ITAT Delhi)

ITO Vs Kuber Fertilizers Pvt. Ltd. (ITAT Delhi) There is no dispute that the notice u/s 148 was issued to the assessee in respect of assessment years, beyond the period of four years from the end of the relevant assessment years as contemplated under the proviso to sub section (1) of Section 151 of the […]...

Read More

S. 147 AO cannot proceed mechanically & on erroneous information supplied to him by investigation wing

Akshar Builders and Developers Vs ACIT (Bombay High Court)

Akshar Builders and Developers Vs ACIT (Bombay High Court)  Even in a case where the return filed by the assessee is accepted without scrutiny, as per the settled law, the Assessing Officer can issue a notice of reopening of assessment provided he has reason to believe that income chargeable to tax has escaped assessment. The […]...

Read More

Assessee cannot be blamed for non-disclosure if AO had such info during assessment proceeding

Rajbhushan Omprakash Dixit Vs DCIT (Bombay High Court)

Once the Department i.e. the Assessing Officer had certain information, material, or document before him during the assessment proceeding, irrespective of the source of such information, material, or document, the Assessee cannot be blamed for non-disclosure thereof....

Read More

S.147 Basic condition of ‘reason to believe’ applies even to s.143(1) intimations

Ankita A. Choksey Vs ITO (Bombay High Court)

Ankita A. Choksey Vs ITO (Bombay High Court) Even in cases where the return of income has been accepted by processing under Section 143(1) of the Act, re-opening of an assessment can only be done when the Assessing Officer has reason to believe that income chargeable to tax has escaped assessment. The mere fact that […]...

Read More

Reassessment for Change of opinion not objected during Assessment- HC dismisses writ petition

M/s. Hanon Automotive Systems India Private Limited Vs DCIT (Madras High Court)

Firstly, we may observe that the learned Single Judge was absolutely right in holding that the Assessee, having not raised an objection before the Assessing Authority to the re-opening of the assessment under Section 147/148 of the Act, should be deemed to have acquiesced to the same. Nothing prevented the Assessee from raising the objec...

Read More

Browse All Categories

CA, CS, CMA (4,186)
Company Law (4,842)
Custom Duty (7,325)
DGFT (3,955)
Excise Duty (4,225)
Fema / RBI (3,780)
Finance (3,964)
Income Tax (30,286)
SEBI (3,153)
Service Tax (3,462)