#Section 147
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Income Tax
Income Tax
Assessment of earlier year cannot be reopened on the basis of persuasive finding in subsequent years
Income Tax
Income Tax
Payment of Cash Salary Exceeding Rs. 20000 not allowable U/s. 40A(3)
Income Tax
Income Tax
S. 147 Supply of recorded reasons after passing reassessment order renders the reopening void
Income Tax
Income Tax
Initiation of reassessment proceedings on basis of assessment for subsequent assessment year
Income Tax
Income Tax
For reopening there must be ‘tangible material, bearing a ‘live link with formation of belief’
Income Tax
Income Tax
When there is detailed scrutiny with regard to an issue, no re-opening for mere change of opinion
Income Tax
Income Tax
Reassessment reasons to believe should be clear & not ambiguous
Income Tax
Income Tax
Furnishing of additional information by AO is not expression of opinion
Income Tax
Income Tax
Even Section 143(1) Assessment Cannot Be Reopened u/s 147 In Absence Of New Material
Income Tax
Income Tax
HC Cannot set aside reopening of assessment without giving the reason
Income Tax
Income Tax
Only Joint Commissioner or Additional Commissioner can sanction issue of Reassessment Notice
Income Tax
Income Tax
Reassessment not valid if Assessee fully & truly disclosed all material facts
Income Tax
Income Tax
Reassessment valid if income is inflated to claim higher deduction u/s. 80IA
Income Tax
Income Tax
Reopening in absence of failure on the part of assessee to disclose fully and truly all material facts is illegal
Explore the latest Section 147 updates on TaxGuru, including relevant Income-tax Act provisions, rules, notifications, circulars, judicial decisions and compliance guidance. The coverage highlights important tax positions, procedural requirements, assessments, deductions, penalties and litigation developments to help taxpayers and professionals understand the practical implications of changes in income-tax law.
