Reassessment u/s 147 - in the assessments of the earlier years ...
Reassessment u/s 147 invalidated; prior deduction u/s 80IB(10) upheld. Notice quashed, no income escaped assessment.
June 21, 2019
Case Laws Income Tax HC
Reassessment u/s 147 - in the assessments of the earlier years deduction u/s 80IB(10) had been allowed because the assessee was, otherwise, entitled to such deduction, cannot be reopened on ground that in subsequent year petitioner had sold flats to related persons - no reasonable person could have formed the belief that income chargeable to tax has escaped assessment - notice quashed
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