![Mere Change of Opinion cannot form the basis for initiating Reassessment proceedings under Income Tax Act: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Reassessment-Income-Tax-Act-Delhi-HC-taxscan.jpg "Mere Change of Opinion cannot form the basis for initiating Reassessment proceedings under Income Tax Act: Delhi HC [Read Order]")
Mere Change of Opinion cannot form the basis for initiating Reassessment proceedings under Income Tax Act: Delhi HC [Read Order]
The Delhi High Court( HC )has held that a mere change of opinion cannot form the basis for initiating reassessment proceedings under Income...
![Non-Filing of Income Tax Return amounts to Escapement of Income: ITAT upholds Reassessment u/s 147 [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Income-Tax-Return-Escapement-Income-ITAT-TAXSCAN.jpg "Non-Filing of Income Tax Return amounts to Escapement of Income: ITAT upholds Reassessment u/s 147 [Read Order]")
![Reassessment proceeding is not valid when there is no connection between recorded reason and Addition of the Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Reassessment-Income-ITAT-taxscan.jpg "Reassessment proceeding is not valid when there is no connection between recorded reason and Addition of the Income: ITAT [Read Order]")
![Mere Suspicion without Valid Reason not sufficient to Initiate Reassessment: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Reassessment-ITAT-taxscan-1.jpeg "Mere Suspicion without Valid Reason not sufficient to Initiate Reassessment: ITAT [Read Order]")
![Reassessment based on Mere Change of Opinion is Invalid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Reassessment-ITAT-TAXSCAN.jpeg "Reassessment based on Mere Change of Opinion is Invalid: ITAT [Read Order]")
Change of Opinion on Existing Records not a Valid Ground for Reassessment: Gujarat HC allows Plea of Hindustan Marble [Read Order]
A Division Bench of the Gujarat High Court held that a change of opinion on the basis of existing records is not a valid ground for reopening the assessment of Hindustan Marble Pvt. Ltd., the...
![Change of Opinion on Existing Records not a Valid Ground for Reassessment: Gujarat HC allows Plea of Hindustan Marble [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Change-of-Opinion-on-Existing-Records-Reassessment-Gujarat-High-Court-Hindustan-Marble-taxscan.jpeg "Change of Opinion on Existing Records not a Valid Ground for Reassessment: Gujarat HC allows Plea of Hindustan Marble [Read Order]")
Calcutta HC confirms Income Tax Addition for Deposit of Unaccounted Cash in Shell Companies [Read Order]
While allowing an appeal filed by the income tax department, the Calcutta High Court has confirmed the addition in respect of the deposit of the unaccounted cash using nine shell companies. The...
![Calcutta HC confirms Income Tax Addition for Deposit of Unaccounted Cash in Shell Companies [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Calcutta-HC-Income-Tax-Deposit-taxscan.jpeg "Calcutta HC confirms Income Tax Addition for Deposit of Unaccounted Cash in Shell Companies [Read Order]")
Reassessment of Jain Cooperative Bank: Delhi HC refuses to Prevent Proceedings on the Merits of the Case [Read Order]
A Division Bench of the Delhi High Court, ruled in favour of the Income Tax Department while deciding a writ petition by Jain Cooperative Bank Ltd. and held that, the court cannot strike down the...
![Reassessment of Jain Cooperative Bank: Delhi HC refuses to Prevent Proceedings on the Merits of the Case [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Reassessment-Jain-Cooperative-Bank-Delhi-HC-taxscan.jpeg "Reassessment of Jain Cooperative Bank: Delhi HC refuses to Prevent Proceedings on the Merits of the Case [Read Order]")
Re-Assessment Framed for Escapement of Income by Share Trading Business which does not belong to Assessee: ITAT sets aside proceedings u/s 147 [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad set aside proceedings under Section 147 on the ground that Re assessment framed for escapement of income by a share trading business that does not...
![Re-Assessment Framed for Escapement of Income by Share Trading Business which does not belong to Assessee: ITAT sets aside proceedings u/s 147 [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Re-assessment-income-business-assessee-ITAT-taxscan.jpeg "Re-Assessment Framed for Escapement of Income by Share Trading Business which does not belong to Assessee: ITAT sets aside proceedings u/s 147 [Read Order]")
Assessment cannot be Re-opened u/s 148A Income Tax Act without Furnishing of Full Information: Calcutta HC [Read Order]
A division bench of the Calcutta High Court has held that re-assessment under section 148A of the Income Tax Act, 1961 cannot be initiated without furnishing full information on the basis of which...
![Assessment cannot be Re-opened u/s 148A Income Tax Act without Furnishing of Full Information: Calcutta HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Assessment-under-section-148A-Income-Tax-Act-Full-Information-Calcutta-High-Court-Taxscan.jpg "Assessment cannot be Re-opened u/s 148A Income Tax Act without Furnishing of Full Information: Calcutta HC [Read Order]")
Madras HC Invalidates Continuation of Reassessment Proceedings for Want of Fresh Notice [Read Order]
The division bench of Madras High Court presided by Mr. Justice R. Mahadevan and Mr. Justice J.Sathya Narayana Prasad has invalidated the continuation of reassessment proceedings for want of fresh...
![Madras HC Invalidates Continuation of Reassessment Proceedings for Want of Fresh Notice [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Madras-High-Court-Reassessment-Fresh-Notice-Taxscan.jpeg "Madras HC Invalidates Continuation of Reassessment Proceedings for Want of Fresh Notice [Read Order]")
Prima facie belief that there is Escape of Income is sufficient proof to Re-Open Assessment: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune bench presided by S.S.Godara, Judicial Member held that prima facie belief that there is the escape of income is sufficient proof to initiate...
![Prima facie belief that there is Escape of Income is sufficient proof to Re-Open Assessment: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/income-reassessment-proceedings-ITAT-taxscan.jpeg "Prima facie belief that there is Escape of Income is sufficient proof to Re-Open Assessment: ITAT [Read Order]")