Questions & Answers On: reopening of assessment

Issue of section 143(2) notice for section 147 assessment
Subject: Issue of section 143(2) notice for section 147 assessment
Category:  Income Tax
Asked by: Shefali Patel
Answered by:
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Date: October 18, 2018
Excerpt of answer:

In the absence of pending return of income, the provisions of section 143(2) of the Act is clear that notice can be issued only when a valid return is pending for assessment. Accordingly, this notice has no meaning

Can a S. 143(3) assessment be reopened u/s 147 despite full disclosure of facts?
Subject: Can a S. 143(3) assessment be reopened u/s 147 despite full disclosure of facts?
Category:  Income Tax
Asked by: Prashant Joshi
Answered by:
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Date: October 11, 2018
Excerpt of answer:

In Income-Tax Officer V/s. Techspan India Private Limited and Another, reported in [2018] 404 ITR 10(SC), the Supreme Court reiterated the settled principle of law laid down by the Supreme Court in CIT V/s. Kelvinator of India Ltd. [2010] 320 ITR 561(SC) that the Assessing Officer has a power only to reassess and has no power to review the assessment order. Thus, it held that no re-opening notice can be issued which is premised on a change of opinion