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Section 147, 148, 143(3). If reopening within a period of four years of assessment u/s 143(3) then there is no bar for reopening of assessment If there is certain non-disclosure. But If reopening beyond four years for assessment already in u/s 143(3) then It must be established that the assessee has not disclosed fully and truly all material evidence with an intention to escape from the payment of tax. motive or intention on the part of the assessee for such non-disclosure is also a material ground. It is a case where the reopening beyond four years of assessment u/s 143(3) and the order of approval, which was validly granted, was produced before the Assessing Officer at the time of scrutiny and the Assessing Officer also accepted the approval order and granted exemption. Thus, the reason stated in the impugned proceedings that the assessee committed a mistake cannot be accepted. M/S.Kone Elevators (India) Pvt. … vs ACIT Madras High Court … on 16 June, 2021
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Since books of account were not rejected, therefore, provisions of section 69B were wrongly invoked by AO. 2018 TaxPub(DT) 4842 (Raj-HC) CIT v. Gaurav Kumar Sharma on dated 12 October, 2017
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Consequences when AO reopen the case only on the basis of valuation report or when no addition is made on account of reason recorded? ITAT CHANDIGARH passed the order in the case of FATEH HOMES PVT. LTD. vs. ITO ON 16.6.2021. IN FAVOUR OF ASSESSEE. IT-CASES-246-2021.
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Section 147,148, 151. Consequences when the Ld. AO failed to provide the complete Annexures which are the basis for reopening ? The ITAT Delhi passed the order on 15 January, 2020 in the case of Behat Holdings Ltd., New Delhi vs Ito Ward-4(3), New Delhi Order in the favour of the assessee. ITA.No.8066/Del./2019.
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What are the consequences if Notice u/s 148 is issued before approval under section 151(1)? ITAT Ahmedabad passed the order on 4 June, 2021. in the case of OMPRAKASH KANAYALAL SHAH vs. ITO Section 147,148,151(1). https://www.bpmundraca.com/it-cases-243-2021/
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Section 69: NO ADDITION CAN BE MADE ONLY ON THE BASIS OF INFORMATION RECEIVED When affidavit is filed and statement on oath is submitted by the assessee unless proved otherwise. ITAT- Mumbai. Shri Mohan Thakur, Mumbai vs A.C.I.T. Cent. Cir. 8(4), Mumbai on 24 May, 2021. https://www.bpmundraca.com/it-cases-242-2021/
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The question in the present case is as to whether the information received from the investigation wing/search team would constitute ‘reason to believe’ empowering the Assessing Officer to reopen the assessment u/s 147/148. Answer is given by ITAT Ahmedabad on 12/11/2020 in the case of Hitesh Ashok Vaswani Vs DCIT. https://www.bpmundraca.com/it-cases-240-2021/
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Can Ld. AO disallow the certain percentages of expenses when the expenses are supported only by self made vouchers and AR agreed to disallowance without pointing out any specific instances of unverifiable element therein? ITAT Kolkata decided on Apr 28, 2021. Section 143(3). Kindly click the link to get the order. https://www.bpmundraca.com/it-cases-239-2021/
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If the assessee for bona fide reasons was unable to bring materials on record to factually prove its claim before the departmental authorities and comes forward to file additional evidences before the Tribunal to prove such fact, the assessee should not be prevented from doing so. It is in the interest of natural justice and fairplay to allow assessee to establish its claim Income Tax Appellate Tribunal – Mumbai in the case of Fab Trade Private Limited, Mumbai vs Ito, Ward 15(1)(2), on 8 March, 2021.
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Addition for accommodation entries without making any independent enquiry from the suppliers nor allowed any cross-examination of the third party though specifically demanded by the assessee-company? ITAT Ahmedabad on 8th March 2021 hold that the addition is deleted as it based on hypothesis, conjectures and suspicion. In the case of ACIT Vs. Darshanam Life Space Pvt. Ltd. & Anr Section 143(3)