Reopening of assessment u/s 147 - validity of reasons to believe ...

Case Laws Income Tax

March 23, 2021

Reopening of assessment u/s 147 - validity of reasons to believe - undisclosed profit - No approval sought from the Additional Commissioner/Commissioner of Incometax for issuance of notice u/s 148 - The impugned order rejecting the objections, the Assessing Officer has recorded that the mistake has happened in mostly all the cases reopened during the year because the cases were reopened on the information based and also of nonfilers which depicts that the Assessing Officer has mechanically recorded the reasons without properly appreciating the facts of the case. - HC

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Reopening of assessment u/s 147 - validity of reasons to believe ...

Case Laws Income Tax

March 23, 2021

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