#Section 147
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5,090 articlesIncome Tax
Income Tax
Extension of time for completion of assessments and reassessments
Income Tax
Income Tax
Budget 2012 – Reopening time limit Increased to 16 Years for income in relation to asset located outside India
Income Tax
Income Tax
Reopening Notice u/s 147 issued within Limitation Period but served after Limitation Period is valid
Income Tax
Income Tax
Section 147 applies both to section 143(1) as well as section 143(3) – No reopening u/s 147 in absence of ‘new material’
Income Tax
Income Tax
For exercise of power U/s. 263, it is mandatory that order passed by AO should be erroneous and prejudicial to interest of Revenue
Income Tax
Income Tax
Delay in notice U/s. 143(2) Renders Assessment Void – HC
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Income Tax
Retrospective amendment no basis to reopen beyond 4 years – HC Disapproves AO’s Practice to Delay Passing Objection Orders
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Income Tax
Sanction of CIT instead of JCIT renders reopening u/s. 147 of Income Tax Act invalid
Income Tax
Income Tax
Whether assessment can be re-opened beyond four years when all primary facts for making the claim were disclosed to the AO
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Income Tax
Mere opinion of the Audit Party cannot form the basis for the Assessing Officer to reopen the closed assessment
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Income Tax
Full and true disclosures must mean what the statute says and requires specific disclosure of each fact – Bombay HC
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Income Tax
Reopening under section 147 For Lapse Of AO Invalid – Delhi High Court
Income Tax
Income Tax
Power to reopen an assessment cannot be exercised to reopen what formed subject matter of an appeal to Commissioner (Appeals)
Income Tax
Income Tax
