Sections 147 & 148 Enable Reassessment of Non-Filers' Taxes Based on Significant Cash Deposits Indicated by AIR Data.

If the plea of the assessee that in case of a non-filer of tax returns, assessments cannot be reopened on the basis of AIR information that assessee has made huge cash deposits in the bank account is accepted, then the provisions of section 147 and 148 in the statute will become redundant. .....

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