Condonation of Delay: directoral disputes and pending company proceedings can constitute reasonable cause, allowing a belated return to be treated as ...
Revisionary jurisdiction under section 263 upheld; faceless assessments subject to revision when AO fails requisite enquiries, remitted for fresh asse...
Limited scope of processing under section 143(1): enhancement without show cause is unsustainable; remand for residency, taxation and TDS verification...
Reassessment under section 148 requires prima facie material that can link the assessee to the alleged escaped income; the expressions "relates to" and "pertains to" in Explanation 2 cannot be read in isolation. The revenue must examine seized material with surrounding circumstances and record its relevance to the assessee. Where the relied-upon document is vague, unspecific, names another person, and is connected only by later collateral information, no live nexus is established. In such circumstances, reopening is based on conjecture and is unsustainable, and the reopening notices and consequential assessment orders are liable to be quashed.
Reassessment under section 148 requires prima facie material that can link the assessee to the alleged escaped income; the expressions "relates to" and "pertains to" in Explanation 2 cannot be read in isolation. The revenue must examine seized material with surrounding circumstances and record its relevance to the assessee. Where the relied-upon document is vague, unspecific, names another person, and is connected only by later collateral information, no live nexus is established. In such circumstances, reopening is based on conjecture and is unsustainable, and the reopening notices and consequential assessment orders are liable to be quashed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4807 
Join Channel 
