Case Laws Analysis
Relied on Mohan Exports India (P) Ltd. v. Dy. CIT 2022 TaxPub(DT) 2292 (Del-Trib)
Followed on Gopal Kumar Goyal v. Dy. CIT 2022 TaxPub(DT) 2256 (Del-Trib)
Followed on ACIT v. Ansal Properties & Infrastructure Ltd. 2022 TaxPub(DT) 1381 (Del-Trib)
Followed on Unicare Developer & Infrastructure (P) Ltd. v. ITO 2022 TaxPub(DT) 0371 (Del-Trib)
Followed on Alok Garg v. DCIT 2022 TaxPub(DT) 0210 (Del-Trib)
Relied on Satinder Pal Singh v. ACIT 2021 TaxPub(DT) 3878 (Del-Trib)
Followed on Dhirendra Tyagi v. ITO 2021 TaxPub(DT) 1899 (Del-Trib)
Followed on Abhit Sud v. DCIT 2021 TaxPub(DT) 1683 (Del-Trib)
Followed on Silicon Graphics Systems (India) (P) Ltd. v. DCIT 2021 TaxPub(DT) 1436 (Del-Trib)
Followed on Ved Parkash Bharti v. ACIT 2020 TaxPub(DT) 5394 (Del-Trib)
Followed on Chegg India (P) Ltd. v. ACIT 2020 TaxPub(DT) 4929 (Del-Trib)
Followed on Sanjeev Garg v. ITO 2020 TaxPub(DT) 4646 (Del-Trib)
Followed on Kailash Chander Malhotra, HUF v. ACIT 2020 TaxPub(DT) 4037 (Del-Trib)
Followed on Best Prinsecotech (P) Ltd. v. DCIT 2020 TaxPub(DT) 3969 (Del-Trib)
Followed on Arvind Kumar Arora v. ITO 2020 TaxPub(DT) 3604 (Del-Trib)
Followed on DCIT v. Telesonic Network Ltd. 2020 TaxPub(DT) 2764 (Del-Trib)
Followed on Sachinder Mohan Mehta v. ACIT 2020 TaxPub(DT) 1807 (Del-Trib)
Relied on Addl. CIT v. ONGC Videsh Ltd. 2020 TaxPub(DT) 1269 (Del-Trib)
Followed on Sumohita Kaur v. ACIT 2020 TaxPub(DT) 0853 (Del-Trib)
Followed on Gupta Metal Sheets Ltd. v. Dy. CIT 2020 TaxPub(DT) 0085 (Del-Trib)
Followed on Hemla Embroidery Mills (P) Ltd. v. DCIT 2019 TaxPub(DT) 6810 (Del-Trib)
Followed on Sudhir Transformers Ltd. v. Asstt. CIT 2019 TaxPub(DT) 6460 (Del-Trib)
Followed on Amanpreet Kaur v. ITO 2019 TaxPub(DT) 5859 (Del-Trib)
 
The Tax Publishers2019 TaxPub(DT) 6933 (Del-HC) : (2021) 432 ITR 0084

INCOME TAX ACT, 1961

Section 147

Since there was no basis for re-opening of assessment, except the presumptive observation of Revenue audit, which itself was not based on any tangible material, the reassessment proceedings initiated against assessee were liable to be quashed.

Reassessment - Validity - Re opening based on audit objection -

Assessee-company carrying on life insurance business, filed its return of income that was picked up for scrutiny. Initially the assessment was completed under section 143(3). Subsequently, after expiry of four years, a notice under section 148 was issued for initiating reassessment proceedings. Held: There was no material in possession of AO, other than the observation of Revenue audit to proceed against the assessee under section 147. Further, the case fell squarely within the realm of 'change of opinion', which was impermissible as a basis for re-opening of assessments after a lapse of four years. Therefore, as there was no basis for re-opening of assessment, except the presumptive observation of Revenue Audit, which itself was not based on any tangible material, the reassessment proceedings initiated against assessee were liable to be quashed.

REFERRED :

FAVOUR : In assessee's favour

A.Y. :


INCOME TAX ACT, 1961

Section 44

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