Reassessment judiciary-2

S. 147/148 AO cannot review his decision & reopen on a change of opinion

BPTP Limited Vs PCIT (Delhi High Court)

BPTP Limited Vs PCIT (Delhi High Court) Section 147 of the IT Act does not allow the reassessment of an income merely because of the fact that the assessing officer has a change of opinion with regard to the interpretation of law differently on the facts that were well within his knowledge even at the […]...

Read More

Section 147: Mere ‘Yes’ on approval not amounts to due application of mind

Blue Chip Developers (P) Ltd. Vs. ITO (ITAT Delhi)

Approval given by approving authority for reopening of assessment u/s 147 of the Income Tax Act, 1961 was without due application of mind and in mechanical manner - reassessment should be quashed....

Read More

Validity of Approval for Reopening by CIT for wrong application of Law by AO

ITO Vs Krish Homes Private Limited (ITAT Jaipur)

The question that arises for consideration is where there is no new material brought on record by the Assessing subsequent to completion of original proceedings u/s 143(3) and where the matter was duly examined during the original assessment proceedings, whether the Assessing officer can still acquire jurisdiction by exercising powers u/s...

Read More

Mere participation in section 147 proceedings not confers jurisdiction upon AO

Attar Singh Vs ITO (ITAT Delhi)

Mere participation in proceedings or acquiescence would not confer jurisdiction upon AO who otherwise was not the AO of assessee, therefore, notice issued under section 148 was quashed and since  reopening was quashed,  subsequent orders passed on account of such reopening were also quashed....

Read More

In absence of valid notice, AO has no authority to assume jurisdiction U/s. 147 

Late Bharti Harendra Modi By Her Legal Heir Nikhilharendr Modi Vs ITO (Gujarat High Court)

Late Bharti Harendra Modi by Her Legal Heir Nikhilharendr Modi Vs ITO (Gujarat High Court) The notice under section 148 of the Act, which is a jurisdictional notice, has been issued to a dead person. Upon receipt of such notice, the legal representative has raised an objection to the validity of such notice and has […]...

Read More

Fresh information in investigation report form- Reassessment notice valid

Chetan Sabharwal Vs ACIT (Delhi High Court)

Fresh information in the form of investigation report clearly demonstrated that initial disclosure regarding price of shares was not true and there was whole ‘live link’ between material in the form of investigation report and formation of belief that income had escaped assessment, therefore, reassessment notice was sustained as valid...

Read More

NSEL Transaction: Reopening of assessment not permissible for Mere verification or for fishing inquiry

Mridulla Badarmal Jain Vs ACIT (Gujarat High Court)

 Re-assessment even if in case where return was not scrutinized before the income chargeable to tax had escaped before acceptance originally could not be made unless AO has reason to believe that the income chargeable to tax had escaped, therefore, for mere verification or for fishing inquiry, reopening of assessment was not permissible....

Read More

Approval for Section 148 notice by mere “YES” word is invalid

Blue Chip Developers (P) Ltd. Vs ITO (ITAT Delhi)

In the present case the approving authority has given approval to the reopening of assessment in a mechanical manner without due application of mind by only mentioning in Column No. 12 'YES', in the Reasons for Initiating Proceedings u/s. 147 and For obtaining the Approval of the Addl. Commissioner of Income Tax. On this count the reasses...

Read More

Section 147/ 151: Sanction granted by superior officer is not relevant

Pr. CIT Vs Khushbu Industries (Bombay High Court)

Court held that where the Act provides for sanction by the Joint Commissioner of Income Tax in terms of section 151, then the sanction by the Commissioner of Income Tax would not meet the requirement of the Act and the reopening notice will be without jurisdiction....

Read More

Mere signing against a particular column of format is nothing but a mechanical approval

Shri Ram Niranjan Tibra Vs ITO (ITAT Jaipur)

Ld. CIT acted mechanically in order to discharge his statutory obligation when he merely wrote on the format Yes, I am satisfied. In the case in hand, the Id. CIT has even not written any affirmative sentence or word but has just signed against the column which was pre-typed Yes....

Read More

Browse All Categories

CA, CS, CMA (4,436)
Company Law (5,274)
Custom Duty (7,552)
DGFT (4,089)
Excise Duty (4,305)
Fema / RBI (3,938)
Finance (4,105)
Income Tax (31,589)
SEBI (3,289)
Service Tax (3,501)

Search Posts by Date

January 2020
« Dec