News Muncher - searching for opinion

Assessment Re-Opened By Dept. Based On 'Change Of Opinion'; Himachal Pradesh High Court Quashes Reassessment

The Himachal High Court quashed the reassessment order on the grounds that the assessment was re-opened by the department based on 'change of opinion'.The bench of Justice Tarlok Singh Chauhan and Justice Sushil Kukreja has observed that as per the record the objections were raised only by the Audit Party and, therefore, reasons have been recorded on borrowed satisfaction of …

The Bombay High Court has quashed the reassessment notices as there was no change in the opening and closing stock of the non-convertible debts.The Bench of Justice K. R. Shriram and Justice Neela Gokhale has observed that the reopening of assessment by the notice was merely on the basis of a change of opinion of the AO. The Bombay High …

Opinion

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

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 …

Dept.’s Personal Opinion Not Tangible Material For Reopening Assessment: Calcutta High Court Quashes Reassessment

The Calcutta High Court has quashed the reassessment order on the grounds that the department’s personal opinion is not tangible material for reopening the assessment.The bench of Chief Justice T. S. Sivagnanam and Justice Hiranmay Bhattacharyya has observed that unless glaring omissions are demonstrated or conditions precedent for exercise of the power to reopen assessment are not. The Calcutta High …

The Bombay High Court has quashed the reassessment against Knight Riders Sport and held that a change of opinion does not constitute justification to believe income chargeable to tax escaped assessment.The bench of Justice K. R. Shriram and Justice Kamal Khata has observed that there is a change of opinion because once a query has been raised during the assessment …

Bombay High Court Quashes Re-Assessment Order Based On Change Of Opinion Without Any Tangible New Information

The Bombay High Court has quashed the reassessment order based on a change of opinion without surfacing any tangible new information.The bench of Justice K. R. Shriram and Justice N. K. Gokhale has observed that the petitioner has fully and truly disclosed all material facts necessary for the purpose of assessment. The Bombay High Court has quashed the reassessment order …

Nothing New Happened Between The Date Of Reassessment Order And The Date Of Forming The Opinion By AO: Bombay High Court Quashes Reassessment Order

The Bombay High Court has quashed the Reassessment Order and held that between the date of the order of assessment sought to be reopened and the date of the formation of an opinion by the Assessing Officer, nothing new has happened. There was no new information received, nor was there any mention of new material on file.The division bench of …