Draft assessment order not reaching a logical conclusion can’t form a reason for reopening assessment: HC

INCOME TAX : Failure to arrive at a logical conclusion in a Section 144C proceeding cannot become ruse for initiating proceedings under section 147/148 in absence of new material emerging before AO which gives AO reason to believe that assessee’s income chargeable to tax had escaped assessmentINCOME TAX : Failure to arrive at a logical conclusion in a Section 144C proceeding cannot become ruse for initiating proceedings under section 147/148 in absence of new material emerging before AO which gives AO reason to believe that assessee’s income chargeable to tax had escaped assessmentwww.taxmann.com Latest Case LawsRead More

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