Re-assessment Master-Class

Course Duration:
180 minutes (two episodes of 90 minutes each)

What's in it for me ?

This Master-Class module will ensure that you get in-depth knowledge into the various legal concepts and aspects of reassessments and the underlying legal principles which have been most litigated in the last 70 odd years in India.

What will the Module Cover?

This 2-part module, led by Oxford Educated Lawyer, Advocate Zoheb Hossain, touches upon 30 key points vis-à-vis re-assessments which includes the following:

(1) The difference between processing a return and assessment and its legal implications for the purpose of reopening;

(2) The doctrine of ‘change of opinion’ and when will it act as a constraint on the powers of the revenue to reopen;

(3) What qualifies as “tangible material”? Should ‘tangible material’ always emanate from outside the Department of Income Tax?;

(4) Can such information, which comes to the attention of the AO while assessing a subsequent year be treated as ‘tangible material’?;

(5) Is audit objection, a valuation report a “tangible material”?;

(6) Meaning of “material facts” the failure to disclose which would entitle re-opening;

(7) Can the revenue assess income other than income for which reopening was resorted to;

(8) Can reopening under S. 147 be resorted to after material is found during search?;

(9) Scope of Judicial review against reopening;

(10) Reopening upto 16 years in relation to any asset (including financial interest in any entity) located outside India under S. 147 further proviso.

Who is this module for?

This series is intended for Chartered Accountants, Tax Practitioners, Advocates, Tax & Law Students, Corporate Professionals, Revenue Authorities, Academicians, Researchers etc.