Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
Page of 4805
Press 'Enter' after typing page number.
1221 to 1240 of 96092 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Reassessment additions based solely on material gathered after reopening cannot survive where no addition or modification is made on the issue that formed the basis for reopening. Although the Explanation to section 147 permits assessment of subsequently noticed income after a valid reopening, the Tribunal applied the principle that this power depends on making an addition on the foundational reopening issue. The condition applies equally to reassessment following search where section 148A procedure is dispensed with. As the Revenue did not establish any addition based on material available at initiation, all additions arising from subsequent enquiries and verification were deleted. Both appeals were allowed, with remaining grounds left open.
Reassessment additions based solely on material gathered after reopening cannot survive where no addition or modification is made on the issue that formed the basis for reopening. Although the Explanation to section 147 permits assessment of subsequently noticed income after a valid reopening, the Tribunal applied the principle that this power depends on making an addition on the foundational reopening issue. The condition applies equally to reassessment following search where section 148A procedure is dispensed with. As the Revenue did not establish any addition based on material available at initiation, all additions arising from subsequent enquiries and verification were deleted. Both appeals were allowed, with remaining grounds left open.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
