Back
BHARGAV D. KARIA, NIRAL R. MEHTA
Rakesh Ramanlal Shah – Appellant
Versus
Deputy Commissioner Of Income Tax Circle 2(1)(1), Ahmedabad – Respondent
ORDER :
BHARGAV D. KARIA, JJ.
1. Heard learned advocate Mr. B.S.Soparkar for the petitioner and learned Senior Standing Counsel Mr. Varun K. Patel for the respondents.
2. Rule returnable forthwith. Learned Senior Standing Counsel Mr. Varun Patel waives service of notice of rule for the respondents.
3. Having regard to the controversy in narrow compass, with the consent of the learned advocates for the respective parties, the matter is taken up for final hearing.
4. By this petition under Article 226 of the Constitution of India, the petitioner has challenged the notice dated 30.03.2021 issued under section 148 of the Income Tax Act,1961 [for short ‘the Act’].
5. Brief facts of the case are as under:
5.1 The petitioner filed return of income for Assessment Year 2014-15 on 26.07.2014 declaring total income of Rs. 39,61,071/-.
5.2 The return of the petitioner was processed and the case of the petitioner was selected for scrutiny. A detailed scrutiny was undertaken by the Assessing Officer by issuing notice dated 21.09.2016 under section 142(1) of the Act requiring the petitioner to furnish various details relating to the capital gain earned during the year under consideration along with docum
Reopening of assessment requires fresh material linking the taxpayer's transactions to the alleged income escapement, which was not established in this case.
The reopening of an assessment under the Income Tax Act requires the Assessing Officer to provide specific reasons linking alleged income escapement to the taxpayer's records, which must not solely r....
Reopening of assessments under the Income Tax Act requires fresh tangible material; reliance on previously examined information constitutes a change of opinion and is invalid.
Point of law: It is no doubt true that the Court cannot go into the sufficiency or adequacy of the material and substitute its own opinion for that of the Income Tax Officer on the point as to whethe....
The Assessing Officer must have tangible evidence linking the taxpayer to alleged income escape for valid reassessment under the Income Tax Act; mere suspicion is insufficient.
Assessment under Income Tax requires concrete information indicating escapement of income, which was absent in this case, rendering notices invalid.
Under section 147 of the Act the proceedings for the reassessment can be initiated only if the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any....
Point of Law : Assessment - Unless any income chargeable to tax has escaped assessment for such assessment year by reason o f the failure on the part of the assesse to disclose fully and truly all ma....
The court held that an Assessing Officer must form an independent opinion based on material on record before reopening an assessment, and cannot solely rely on external information.
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
