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Section 147 provides basis for reopening of a completed assessment. There are several circumstances covered under this section, if they exist, the AO can issue notice u/s 148 subject to various conditions laid down u/ss 147 to 153. One of the circumstances covered in section 147 is where original assessment is completed u/s 143(3) and four years expired from the end of the relevant assessment year.Section 147 provides basis for reopening of a completed assessment. There are several circumstances covered under this section, if they exist, the AO can issue notice u/s 148 subject to various conditions laid down u/ss 147 to 153. One of the circumstances covered in section 147 is where original assessment is completed u/s 143(3) and four years expired from the end of the relevant assessment year.taxmann.com Latest ArticlesRead More