Tag Archives: Reassessment

Notice issued prior to recording reasons for reassessment liable to set aside: Delhi High Court

By | November 30, 2015

Facts of the Case:- GKN Driveshafts (India) Ltd’s case , the Supreme Court had directed as under:— “However, we clarify that when a notice under Section 148 of the Income-tax Act is issued, the proper course of action for the noticee is to file return and if he so desires, to seek reasons for issuing… Read More »

AO could not issue reassessment Notice if he did not have jurisdiction over assessee

By | October 31, 2015

Assessment year 2010-11 Facts of the case: One of income-tax officers was designated to collect AIR information and to make necessary enqury .Designated officer having received information from AIR, issued notice under section 148 to assessee . He also made an attempt to frame assessment over assessee .When assessee raised objection about his jurisdiction over… Read More »

No reassessment because income remained untaxed due to non coordination between departmental officers

By | October 16, 2015

Facts of the Case :- Assessing Officer finalised assessment under section 143(3) .Assessing Officer issued notice under section 148 as Assessing Officer had reasons to believe that taxable income had escaped assessment . In reasons recorded by Assessing Officer, he stated that certain amounts remain untaxed because of non co-ordination between Departmental Officers.  However, it… Read More »

Reassessment at instance of audit party unjustified

By | October 11, 2015

Whether reassessment at instance of audit party on account of non-inclusion of excise duty refund in total income was unjustified ? Held, yes HIGH COURT OF GUJARAT Raajratna Metal Industries Ltd. v. Assistant Commissioner of Income-tax M.R. SHAH AND K.J. THAKER, JJ. SPECIAL CIVIL APPLICATION NO. 7140 OF 2014 JULY  30, 2014 B.S. Soparkar for… Read More »