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Income Tax - Highlights / Catch Notes

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Reopening of assessment u/s 147 - reasons for re-opening the ...


Reassessment u/s 147: Incomplete Disclosure May Lead to Reopening of Tax Assessments. Accurate Reporting is Crucial.

March 26, 2020

Case Laws     Income Tax     HC

Reopening of assessment u/s 147 - reasons for re-opening the assessment - change of opinion or not - mere filing to the annexure by the petitioner in response to notice during scrutiny assessment by itself may or may not have been sufficient to come to the conclusion that there was full and true disclosure by the petitioner if the information furnished was neither complete nor true.

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