Reopening of assessment - legality of issuance of notice u/s. ...

Notice u/s 148 Insufficient for Reopening Assessment Based Solely on Investigation Study, Suspicion Not Enough.

November 26, 2020

Case Laws Income Tax AT

Reopening of assessment - legality of issuance of notice u/s. 148 - Merely on a study by Investigation Wing ,as in this case explaining the general modus operandi carried out by un-scrupulous persons in suspected transactions to convert the unaccounted cash of beneficiaries which were transferred to the bank accounts of the beneficiaries through the dubious bank accounts of fake entities can only raise suspicion in the mind of the AO (which fact we have pointed out earlier) which is not sufficient/requirement of law for unscrupulous persons in suspected transactions to convert the unaccounted cash of beneficiaries which were transferred to the bank accounts of the beneficiaries through the dubious bank accounts of fake entities can only raise suspicion in the mind of the AO (which fact we have pointed out earlier) which is not sufficient/requirement of law for reopening of assessment. - AT

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Reopening of assessment - legality of issuance of notice u/s. ...

Notice u/s 148 Insufficient for Reopening Assessment Based Solely on Investigation Study, Suspicion Not Enough.

November 26, 2020

Case Laws Income Tax AT

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