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Objections for Reopening of Assessment to be raised at Reassessment Proceedings: Orissa HC [Read Order]

The Orissa High Court held that the objections for reopening of assessment to be raised at reassessment proceedings. The Petitioner, M/s. Amber...

Karnataka Govt. extends Time Limit for Reassessment under VAT for the year 2016-17 [Read Order]

Reassessment not sustainable when Reasons for Initiation of Proceedings Ceased to Survive: ITAT...

Reassessment on basis of Wrong, Incorrect & Non-Existing reasons is Illegal and Bad in Law: ITAT

Reassessment invalid If satisfaction for Reopening recorded in Mechanical manner: ITAT [Read Order]

Reassessment on incorrect facts and by non-application of mind is bad in Law: ITAT [Read Order]

The Income Tax Appellate Tribunal, Delhi Bech “C” quashes the order of reassessment passed on grounds of incorrect facts, non-application of mind and failure to furnish reasons to the assessee. In...

Scope of Reasons vis-à-vis Reassessment under Section 148

Introduction The Income Tax Act, 1961 is in itself a complete code concerning the procedure of completing assessments/reassessments qua the assessees subject to the embedded riders in forms of...

Re-Assessment become Void If it was made on the basis of Incriminating Materials found During Search of 3rd Party: ITAT

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the re-assessment passed under section 147/ 148 of the Income Tax Act becomes null and void since the assessment under section...

Re-Assessment Notice should contain a 'Reason to believe' with supporting Evidence: Delhi HC [Read Judgment]

The Delhi High Court held that assessing officer can initiate the notice for re-assessment with the reasons to believe and with reference to any fresh tangible material. The writ petitions under...

Madras HC disallows Reassessment Proceedings merely on Change of Opinion [Read Judgment]

The Madras High Court has disallowed the Reassessment proceedings merely on his change of opinion on the basis of the same facts and circumstances which has already been considered by him during the...

Notice for Reassessment invalid If it is not served, rules Bombay HC [Read Order]

The division bench of the Bombay High Court has recently ruled that, Notice for the reassessment under Section 148 of Income Tax Act invalid if issued but not served properly. The petitioner is an...

Reassessment u/s 147 void where No New Material came into Record: ITAT [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) in the case of ACIT v. M/s. Goldmohur Design and Apparel Park Ltd. held that where the assessee duly furnished relevant material and no new...

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