TMI BlogReopening of the assessment u/s 147/148 - The "reason to believe" would mean cause or justification. If...Reopening of the assessment u/s 147/148 - The "reason to believe" would mean cause or justification. If the Assessing Officer has cause or justification to know or suppose that income had escaped assessment, he can be said to have reason to believe that an income had escaped assessment. The expression cannot be read to mean that the Assessing Officer should have finally ascertained the fact by legal evidence or conclusion and what is required is "reason to believe", but not the established fact ..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
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