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Income Tax - Highlights / Catch Notes

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Audit objection cannot be considered as tangible material for ...


Audit Objection Insufficient for Reopening Assessment: AO Needs Independent Satisfaction u/ss 147/148, Assessment Under 143(3.

June 4, 2016

Case Laws     Income Tax     AT

Audit objection cannot be considered as tangible material for the AO to reopen u/s 147/148 of the Act concluded assessment u/s 143(3) of the Act, unless the AO records his own satisfaction that income has escaped assessment - AT

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