Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: articles on VAT and GST in India :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: cpt :: VAT RATES :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: VAT Audit
 
 
From the Courts »
  H.T. MEDIA LIMITED Vs. PRINCIPAL COMMISSIONER OF INCOME TAX-IV, NEW DELHI
 Commissioner Of Income Tax (Ltu), New Delhi Vs. Oriental Insurance Company Ltd.
 Principal Commissioner Of Income Tax (Central)-2 Vs. Index Securities Private Limited
 Income Tax Appellate Tribunal, Ahmedabad Benches, Ahmedabad Constitution For The Period From 18/09/2017 To 22/09/2017
  M/s Brothers & Sisters Enterprise vs. JCIT (ITAT Kolkata)
  Commissioner Of Income Tax, Delhi-Iv Vs. DLF Universal Ltd.
 Commissioner Of Income Tax, Delhi-Iv Vs. DLF Universal Ltd.
 Jcb India Ltd. Vs. Deputy Commissioner Of Income Tax &
 Saheb Ram Om Prakash Marketing Pvt Ltd Vs. Commissioner Of Income Tax & ORS
 Tulsi Tracom Private Limited Vs. Commissioner Of Income Tax – 9
 M/s Brothers & Sisters Enterprise vs. JCIT (ITAT Kolkata)

Donaldson India Filters Systems Pvt. Ltd vs. DCIT (Delhi High Court)
January, 31st 2015

S. 147: Assessment cannot be reopened in the absence of "fresh material"

(i) Undoubtedly, Explanation – 1 to Section 147 indicates that mere production of account books or other evidence before the Assessing Officer would not necessarily amount to disclosure of the material information by the assessee. But then, the explanation clarifies the said general refrain by the words “not necessarily”. Therefore, the burden is equally placed on the Assessing Officer to exercise due diligence in examining the record (account books or evidence) produced before him in the light of declarations made in the return or responses (to the notices, questionnaire etc.). As has been noted above, the sine quo non for action under Section 147 (to deal with escapement of income) is gathering or availability of some “tangible material” requiring the matter to be re-opened;

(ii) The order passed by the assessing authority extracted above unmistakably shows that even at that stage it had no fresh material available to it so as to exercise the jurisdiction available under Sections 147/148 of Income Tax Act. It was, thus, taking a fresh call on the subject of assessment of income (i.e. re-assessment), drawing conclusions and inferences from the same very material that had been scrutinized in the original assessment proceedings. The case at hand is concededly not covered by other exceptions as indicated by second and third proviso or explanation to Section 147 quoted earlier.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
System Testing Solution Manual Software Testing Solutions Automation Software Testing Solutions System Workflow Testing System Manual Testing

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions