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AO bound to obtain Approval from Authorities in case of Time Barred Re-Assessment as per the direction of CIT(A): Gujarat HC [Read Judgment]

AO bound to obtain Approval from Authorities in case of Time Barred Re-Assessment as per the...

Taxscan Team
Audit Objection cannot be a Ground for Re-Assessment: ITAT Kochi [Read Order]

Audit Objection cannot be a Ground for Re-Assessment: ITAT Kochi [Read Order]

Taxscan Team
Assessing Officer is bound to Record Reason for Re-Assessment in the notice after 4 years: Madras HC [Read Judgment]

Assessing Officer is bound to Record Reason for Re-Assessment in the notice after 4 years: Madras HC...

Taxscan Team
Statements made to UK Revenue Authorities without any Material Evidence cannot be a Sole basis for Re-Assessment: Delhi HC [Read Judgment]

Statements made to UK Revenue Authorities without any Material Evidence cannot be a Sole basis for...

Taxscan Team

Re-Assessment proceedings solely based on objection of Audit Para are Invalid: ITAT Jaipur [Read Order]

In a recent ruling, the Jaipur bench of the Income Tax appellate Tribunal held that the re-assessment under section 147 of the Income Tax Act are invalid if the same is based solely on the objection...

Re-Assessment proceedings solely based on objection of Audit Para are Invalid: ITAT Jaipur [Read Order]
Taxscan Team

Re-Assessment cannot be made on the basis of Mere Presumptions: ITAT Mumbai [Read Order]

In a recent ruling, the Mumbai bench of the Income Tax Appellate Tribunal held that re-assessment under s. 147 of the Income Tax Act cannot made in the light of mere presumptions or on verification of...

Re-Assessment cannot be made on the basis of Mere Presumptions: ITAT Mumbai [Read Order]
Taxscan Team

Increase in Turnover due to use of Digital Mode of Payment Post Demonetisation is not a ground for Re-Assessment: CBDT [Read Circular]

The Central board of Direct Taxes (CBDT) recently directed its officials to avid re-opening of past assessment merely invoking the increase in turnover due to use of digital mode of payment post...

PAN - CBDT - Taxscan
Taxscan Team

Re-Assessment under DVAT Act must be based on some Objective Material which persuades the AO to Re-Open an Assessment: Delhi HC [Read Judgment]

In a recent ruling, the two-judge bench of the Delhi High Court quashed a re-assessment order passed under section 24 of the Delhi Value Added Tax Act on ground that such an order is not valid in the...

Finance Act - Delhi High Court - taxscan
Taxscan Team

Notice for Re-assessment without Recording any Reason is Invalid: Bombay HC [Read Judgment]

While quashing an order for re-assessment under section 148 of the Income Tax Act, 1961, the Bombay High Court held that recording of reason for re-assessment is an essential requirement though there...

Notice for Re-assessment without Recording any Reason is Invalid: Bombay HC [Read Judgment]
Taxscan Team

Appellate Tribunal can direct the AO to accept a new Claim for Deduction: ITAT Kolkata [Read Order]

In a recent ruling, the Kolkata bench, ITAT held that being an appellate authority, the tribunal, has the power to direct the assessing officer to admit a new claim which was not made by the assessee,...

Appellate Tribunal can direct the AO to accept a new Claim for Deduction: ITAT Kolkata [Read Order]
Taxscan Team

Re-Assessment cannot be made on the basis of error in law pointed out by the Audit Party: Gujarat HC [Read Judgment]

In a recent decision, the division bench of the Gujarat High Court opined that re-assessment cannot be made only on the basis of the audit party opinion on a point of law. The While quashing the...

Re-Assessment cannot be made on the basis of error in law pointed out by the Audit Party: Gujarat HC [Read Judgment]
Taxscan Team

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