Reopening of assessment u/s 147 - Initiation of reassessment ...

Reassessment u/s 147 Valid: New Evidence Justifies Notice Issuance and Order Framing by Assessing Officer.

December 10, 2021

Case Laws Income Tax AT

Reopening of assessment u/s 147 - Initiation of reassessment proceedings, u/s.148 of the Act and issued notice to the assessee was based on valid reason on the strength of new tangible material which was not before the AO during the original assessment proceedings. Therefore, we are unable to see any ambiguity, perversity or invalidity in the action of the AO in initiating reassessment proceedings, issuing notice u/s.148 of the Act and framing reassessment order u/s.143(3) r.w.s.147 of the Act. - AT

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Reopening of assessment u/s 147 - Initiation of reassessment ...

Reassessment u/s 147 Valid: New Evidence Justifies Notice Issuance and Order Framing by Assessing Officer.

December 10, 2021

Case Laws Income Tax AT

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