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Income Tax - Highlights / Catch Notes

Home Highlights August 2019 Year 2019 This

Reopening of assessment u/s 147 - Since the assessee was ...

Case Laws     Income Tax

August 12, 2019

Reopening of assessment u/s 147 - Since the assessee was claiming purchases from the parties which were only issuing accommodation bills and were not having any stock available with them, the A.O. formed an opinion that there was escapement of income - Proper approval was taken by the AO before reopening the assessment. - notice sustained

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