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Articles for Reassessment Proceedings, search results for assessee

Liquidator Never Informed Of Reassessment Proceedings, Patna High Court Quashes Order
4 months, 1 week ago

Liquidator Never Informed Of Reassessment Proceedings, Patna High Court Quashes Order

Live Law  

The Patna High Court has quashed the order as the liquidator was not informed of the reassessment proceedings.The bench of Chief Justice K. Vinod Chandran and Justice Partha Sarthy has observed that the liquidator should be noticed and participate in the reassessment proceedings. The Patna High Court has quashed the order as the liquidator was not informed of the reassessment …

Reassessment Order Proceedings Liquidator Court Quashes Assessee Reassessment Proceedings
Reassessment Proceedings Initiated On Account Of Change Of Opinion Merits To Be Quashed: Mumbai ITAT
10 months, 2 weeks ago

Reassessment Proceedings Initiated On Account Of Change Of Opinion Merits To Be Quashed: Mumbai ITAT

Live Law  

While confirming the CIT's order quashing the reassessment order, the Mumbai ITAT held that the reassessment proceedings were initiated on account of change of opinion formed on re-appraisal of the facts already on record and examined during the regular assessment proceedings. The CIT had concluded that reassessment proceedings were initiated on re-appraisal and re-examination of the assessment records without bringing …

Record Loss Change Reassessment Assessment Foreign Exchange Proceedings
Reassessment Proceedings Can't Be In The Nature Of Review: Karnataka High Court
1 year ago

Reassessment Proceedings Can't Be In The Nature Of Review: Karnataka High Court

Live Law  

The Karnataka High Court has held that reassessment proceedings cannot be in the nature of review.The bench of Justice S. Sunil Dutt Yadav has observed that the material that has come to light in the assessment proceedings for the assessment year 2008–2009 cannot be sufficient grounds to resort to reassessment proceedings.The petitioner/assessee has challenged the notice issued under. The Karnataka …

Reassessment Assessment Proceedings Kar Karnataka High Court Reassessment Proceedings
Reassessment Proceedings, Senior Officers Like ACIT, PCIT Expected To Apply Mind; Delhi High Court
1 year ago

Reassessment Proceedings, Senior Officers Like ACIT, PCIT Expected To Apply Mind; Delhi High Court

Live Law  

The Delhi High Court has held that senior officers like ACIT and PCIT are expected to apply their minds to such requests and, only after that, approve the initiation of reassessment proceedings.The bench of Justice Rajiv Shakdher and Justice Anish Dayal has observed that the reopening of the concluded scrutiny assessment is a serious business. The Delhi High Court has …

Court Assessment Delhi High Court Senior Officers Pcit Reassessment Proceedings Sipl
AO Lacked Tangible Material To Form A Belief That Income, Chargeable To Tax Had Escaped Assessment: Delhi High Court Quashes Reassessment Notice
1 year, 1 month ago

AO Lacked Tangible Material To Form A Belief That Income, Chargeable To Tax Had Escaped Assessment: Delhi High Court Quashes Reassessment Notice

Live Law  

The Delhi High Court has held that AO did not have the tangible material on record that could have persuaded him to form the belief that income, otherwise chargeable to tax, had escaped assessment.The bench of Justice Rajiv Shakdher and Justice Girish Kathpalia, the AO, did not employ diligence while triggering the reassessment proceedings against the petitioner or assessee. The …

Tax Reassessment Income Proceedings Form Petitioner Assessee
There Should Be Finality To Assessment, Can’t Have Repeated Reassessment Proceeding On The Dictate Of Audit Party: Jharkhand High Court
1 year, 2 months ago

There Should Be Finality To Assessment, Can’t Have Repeated Reassessment Proceeding On The Dictate Of Audit Party: Jharkhand High Court

Live Law  

The Jharkhand High Court has held that if the assessing authority is allowed to initiate repeated re-assessment proceedings against an assessee merely on the dictate of the audit party, there would not be finality of assessment. The bench of Justice Rongon Mukhopadhyay and Justice Deepak Roshan has observed that, as far as Sections 42 and 42 of the Jharkhand Value …

Jharkhand Limitation Audit Period Proceedings Legislature Act
Absence Of Material: Bombay High Court Quashes Reassessment Proceedings
1 year, 10 months ago

Absence Of Material: Bombay High Court Quashes Reassessment Proceedings

Live Law  

The Bombay High Court has quashed the reassessment proceedings as the issue of "large loans and advances" was not only raised during the scrutiny assessment but also responded to by the assessee.The division bench of Justice Dhiraj Singh Thakur and Justice Kamal Khata has observed that between the date of the order of assessment, which is sought to be reopened, …

Court Assessment Proceedings Material Bombay High Reassessment Proceedings
Tax Cases Monthly Round-Up: June 2022
2 years, 5 months ago

Tax Cases Monthly Round-Up: June 2022

Live Law  

Direct Tax: Delhi High Court: Underreporting Of Income Due To Re-Computation Of Disallowance By The AO, Does Not Amount To Misreporting Of Income: Delhi High Court Case Title: Prem Brothers Infrastructure LLP. Notice Issued Under Section 148 Of The Income Tax Act Against ADeceased Assessee Is Invalid : Reiterates Delhi High Court Case Title: Davinder Singh Thapar versus Assistant Commissioner …

India Justice Delhi Supreme Court High Court Tax Court
Reassessment Proceedings Can't Be Initiated On Same Set Of Facts Available: ITAT
2 years, 5 months ago

Reassessment Proceedings Can't Be Initiated On Same Set Of Facts Available: ITAT

Live Law  

The Mumbai Bench of the Income Tax Appellate Tribunal has held that the reassessment proceedings cannot be initiated by applying a fresh application of mind to the same set of facts available at the time of the original scrutiny assessment proceedings. The Assessing Officer issued the notice under section 148 of the Income Tax Act, initiating the reassessment proceedings in …

Reassessment Assessment Income Proceedings Officer Act Itat