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Income Tax - Highlights / Catch Notes

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Reopening of assessment u/s 14/148 - Information received about ...

Income Tax

September 21, 2022

Reopening of assessment u/s 14/148 - Information received about undisclosed Crypto currency - bank transactions alone are not sufficient to verify the trade in Crypto currency - Even now it would be open for the assessee to satisfy the authority by submitting the relevant Crypto currency ledger to verify the information as was submitted by him before the Assessing Officer in proceedings under Section 148A of the Act, 1961. - HC

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