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Oriental Insurance Company v. Commissioner of Income Tax - (High Court of Delhi) (15 Sep 2015)

Assessing Officer cannot reopen assessment on erroneous assumptions


Direct Taxation

To reopen a concluded income tax assessment for escaped income, a reason to suspect cannot be a reason to believe, which must be rational and bear a direct nexus to the material on which such a belief is based. The Court held that an Assessing Officer does not have jurisdiction to reopen an assessment for ‘believed’ escaped income, if such a belief is not based on tangible material or information. It noted, the Officer had reopened the assessment for escaped income on grounds other than those which suggested escaped income.

Relevant : Section 147 Income Tax Act, 1961 Act Commissioner of Income-Tax v. Kelvinator of India Ltd.: MANU/SC/0047/2010 Prabhu Dayal Rangwala v. Commissioner of Income-Tax: MANU/DE/0696/2015


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