Reopening of assessment u/s 147 - concept of change of opinion - ...

Assessing Officer Can Reopen Accepted Returns without Scrutiny if Income Escaped Assessment u/s 147.

February 14, 2022

Case Laws Income Tax HC

Reopening of assessment u/s 147 - concept of change of opinion - In cases where the return of an assessee is accepted without scrutiny, the assessing officer enjoys a greater latitude to reopen the assessment. - AO had sufficient material at his command to form a belief that the income chargeable to tax has escaped assessment. There is a clear link between the information available with the assessing officer and his formation of belief that the income chargeable to tax has escaped assessment. - HC

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Reopening of assessment u/s 147 - concept of change of opinion - ...

Assessing Officer Can Reopen Accepted Returns without Scrutiny if Income Escaped Assessment u/s 147.

February 14, 2022

Case Laws Income Tax HC

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