![Reassessment Powers could not be exercised for the purpose of Re-verification: Gujarat High Court [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Reassessment-powers-could-not-be-exercised-for-the-purpose-of-Re-verification-Gujarat-High-Court-TAXSCAN.jpg "Reassessment Powers could not be exercised for the purpose of Re-verification: Gujarat High Court [Read Order]")
Reassessment Powers could not be exercised for the purpose of Re-verification: Gujarat High Court [Read Order]
A division bench of the Gujrath High Court by allowing a petition held that re-assessement power could not be exercised for the purpose...
![Reassessment u/s 147 simply relied on the Non-PAN AIR information is not valid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Reassessment-Non-PAN-AIR-information-non-PAN-AIR-ITAT-income-tax-taxscan.jpg "Reassessment u/s 147 simply relied on the Non-PAN AIR information is not valid: ITAT [Read Order]")
![Due explanation of ground of receipt of Share Application Money: Gujarat HC quashes Reassessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Share-Application-Money-Gujarat-HC-Reassessment-TAXSCAN.jpg "Due explanation of ground of receipt of Share Application Money: Gujarat HC quashes Reassessment [Read Order]")
![Reassessment Powers not to be exercised for purpose of re-verification or merry sailing for rowing inquiry: Gujarat HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Reassessment-verification-inquiry-Gujarat-HC-taxscan.jpg "Reassessment Powers not to be exercised for purpose of re-verification or merry sailing for rowing inquiry: Gujarat HC [Read Order]")
![Reassessment cannot be invoked when Original Assessment concluded after receipt of Satisfactory Reply on Similar Queries: Bombay HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Reassessment-Income-Tax-Act-High-Court-notice-for-Reassessment.jpeg "Reassessment cannot be invoked when Original Assessment concluded after receipt of Satisfactory Reply on Similar Queries: Bombay 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 TaxAct,1961. Ambarnuj Finance and Investment, the...
![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]")
Non-Filing of Income Tax Return amounts to Escapement of Income: ITAT upholds Reassessment u/s 147 [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, has recently, in an appeal filed before it, while upholding the reassessment under section 147 of the Income Tax Act, 1961, held that...
![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]
The Amritsar Bench of the Income Tax Appellate Tribunal (ITAT) has held that a reassessment proceeding is not valid when there is no connection between recorded reason and addition of the income ...
![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]")