Reopening of assessment u/s 147 - assessee had entered into cash ...

Challenge to Section 147 Reassessment: AO's Mechanical Approach in Cash Transaction Case Ruled Unacceptable.

February 20, 2023

Case Laws Income Tax AT

Reopening of assessment u/s 147 - assessee had entered into cash transactions exceeding Rs.10,00,000 in a month, resulting in escapement of income - the reasons recorded make it amply clear that AO has acted mechanically and without application of mind to the facts and material on record. Such lackadaisical approach for reopening of assessment u/s 147 cannot be condoned. - AT

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Reopening of assessment u/s 147 - assessee had entered into cash ...

Challenge to Section 147 Reassessment: AO's Mechanical Approach in Cash Transaction Case Ruled Unacceptable.

February 20, 2023

Case Laws Income Tax AT

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