![Reopening of Assessment after Four Years while there was No New Tangible Material Evidence: ITAT quashes Assessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Reopening-Assessment-Tangible-Material-Evidence-ITAT-Assessment-Order-Income-Tax-taxscan.jpg "Reopening of Assessment after Four Years while there was No New Tangible Material Evidence: ITAT quashes Assessment Order [Read Order]")
Reopening of Assessment after Four Years while there was No New Tangible Material Evidence: ITAT quashes Assessment Order [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that the assumption of jurisdiction for reopening the assessment by the Assessing...
![Reopening After 4 years in the Absence of Tangible Material Amounts to Change of Opinion Only: ITAT quashes Reopening u/s 147 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Reopening-Tangible-Material-ITAT-Income-Tax-Act-Income-Tax-Tangible-Material-Amounts-to-Change-of-Opinion-Taxscan.jpg "Reopening After 4 years in the Absence of Tangible Material Amounts to Change of Opinion Only: ITAT quashes Reopening u/s 147 of Income Tax Act [Read Order]")
![No Re-assessment Proceeding u/s 147 of Income Tax Act can be Initiated by AO Without any Tangible Material Showing Escape of Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/No-Re-assessment-Proceeding-Initiated-by-AO-Tangible-Material-Showing-Escape-of-Income-ITAT-Income-Tax-Tangible-Material-Escape-of-Income-taxscan.jpg "No Re-assessment Proceeding u/s 147 of Income Tax Act can be Initiated by AO Without any Tangible Material Showing Escape of Income: ITAT [Read Order]")
![AO has Power to Reopen Case if there is any Tangible Material Concluding Escape of Income from Assessment: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/AO-Power-Reopen-Tangible-Material-Escape-Income-Assessment-ITAT-taxscan.jpg "AO has Power to Reopen Case if there is any Tangible Material Concluding Escape of Income from Assessment: ITAT [Read Order]")
![Attaching Taxpayers Bank Account merely based on Suspicion and Without Tangible Material is not Valid: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Attaching-Taxpayers-Bank-Account-Taxpayer-Bank-Account-Tangible-Material-is-not-Valid-Tangible-Material-Delhi-High-Court-taxscan.jpg "Attaching Taxpayers Bank Account merely based on Suspicion and Without Tangible Material is not Valid: Delhi HC [Read Order]")
No Tangible Material for AO to have ‘reason to believe’ for Escapement of Income: Bombay HC quashes Re-Assessment Notice [Read Order]
The Bombay High Court quashed re assessment notice on the ground that no tangible material for Assessing Officer (AO) to have ‘reason to believe’ for escapement of income. A return of income was...
![No Tangible Material for AO to have ‘reason to believe’ for Escapement of Income: Bombay HC quashes Re-Assessment Notice [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Tangible-material-AO-Escapement-of-Income-Escapement-of-Income-Income-Bombay-High-Court-Re-Assessment-Notice-Re-Assessment-taxscan-.jpg "No Tangible Material for AO to have ‘reason to believe’ for Escapement of Income: Bombay HC quashes Re-Assessment Notice [Read Order]")
![No Re-Assessment without new Tangible Material: Bombay HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Re-Assessment-Tangible-Material-Bombay-High-Court-taxscan.jpg "No Re-Assessment without new Tangible Material: Bombay HC [Read Order]")
Income Tax Dept cannot Avail Extended Time Limit for Re-Assessment without New or Tangible Material: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai bench has held the income tax department cannot avail the extended time limit for re-assessment under the Income Tax Act, 1961 without new or...
![Income Tax Dept cannot Avail Extended Time Limit for Re-Assessment without New or Tangible Material: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Income-Tax-Dept-income-tax-Extended-Time-Re-Assessment-Tangible-Material-ITAT-Taxscan.jpg "Income Tax Dept cannot Avail Extended Time Limit for Re-Assessment without New or Tangible Material: ITAT [Read Order]")
GST: Allahabad HC Imposes Cost of Rs. 50,000 on Dept for Arbitrary Attachment without Tangible Material [Read Order]
In a significant ruling, the Allahabad High Court has imposed a cost of Rs. 50,000 on the GST department for the provisional attachment without quoting tangible material in violation of section 83 of...
![GST: Allahabad HC Imposes Cost of Rs. 50,000 on Dept for Arbitrary Attachment without Tangible Material [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/09/GST-Allahabad-HC-Tangible-Material-taxscan.jpeg "GST: Allahabad HC Imposes Cost of Rs. 50,000 on Dept for Arbitrary Attachment without Tangible Material [Read Order]")
Information from Investigation Wing/AIR cannot be a Tangible Material to Initiate Re-Assessment: ITAT [Read Order]
The Delhi bench of the ITAT has quashed the re-assessment proceedings holding that the information received from the Investigations Wing or AIR cannot be said to be a tangible material per se without...
![Information from Investigation Wing/AIR cannot be a Tangible Material to Initiate Re-Assessment: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Investigation-Tangible-Material-Re-Assessment-ITAT-taxscan-1.jpeg "Information from Investigation Wing/AIR cannot be a Tangible Material to Initiate Re-Assessment: ITAT [Read Order]")
Revision u/s 263 without any Tangible Material is not Valid: Gujarat HC sets aside Proceedings against Axis Bank [Read Order]
The Gujarat High Court has held that the revision under section 263 of the Income Tax Act, 1961 without any tangible material is not valid and set aside the proceedings against Axis Bank. The...
![Revision u/s 263 without any Tangible Material is not Valid: Gujarat HC sets aside Proceedings against Axis Bank [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Revision-Tangible-Material-Material-Gujarat-High-Court-Proceedings-Axis-Bank-Taxscan.jpg "Revision u/s 263 without any Tangible Material is not Valid: Gujarat HC sets aside Proceedings against Axis Bank [Read Order]")
Reassessment proceeding cannot be challenged If Assessee suppressed material facts by not filing Income Tax Return: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) ruled that reassessment proceeding cannot be challenged if the assessee suppressed material facts by not filing an Income Tax Return. ...
![Reassessment proceeding cannot be challenged If Assessee suppressed material facts by not filing Income Tax Return: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Reassessment-proceeding-assessee-return-of-income-ITAT-taxscan.jpeg "Reassessment proceeding cannot be challenged If Assessee suppressed material facts by not filing Income Tax Return: ITAT [Read Order]")