No sec. 263 revision on issue which was raised by AO during assessment to which assessee had offered explanation: HC

INCOME TAX : Where Assessing Officer completed assessment under section 143(3) and Commissioner revised order of assessment holding that Assessing Officer did not properly scrutinize valuation of closing stock of tools and tackles and Tribunal held that during assessment proceedings a specific query was raised by Assessing Officer to assessee with regard to valuation of closing stock of tools and tacklesINCOME TAX : Where Assessing Officer completed assessment under section 143(3) and Commissioner revised order of assessment holding that Assessing Officer did not properly scrutinize valuation of closing stock of tools and tackles and Tribunal held that during assessment proceedings a specific query was raised by Assessing Officer to assessee with regard to valuation of closing stock of tools and tackleswww.taxmann.com Latest Case LawsRead More

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