Tag Archives: Change of opinion

Reopening of assessment on change of opinion is not permitted :HC

By | December 8, 2015

Facts of the case During the previous year under consideration the assessee has inter-alia credited a sum of Rs. 5,05,33,63,209/- directly into the General Reserve Accounts in the Balance Sheet as “profit on sale of investment” without routing it through the profit and loss account of the corresponding year. AO’s contention:- Income of Rs. 5,05,33,63,209′-… Read More »

Change of opinion not permissible for invoking Section 147

By | December 2, 2015

IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH ‘E’ NEW DELHI New Delhi Television Ltd., vs. A.C.I.T., Circle 13(1) ITA Nos. 1023/Del./2013 Asstt. Year : 2003-04 The brief facts of cases are :- that the assessee-company is engaged in the business of producing customize software/programs for broadcasters like Star TV, BBC, Vijay Television etc. The… Read More »