Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2015 (11) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (11) TMI 1621 - HC - Income TaxValidity of reopening of assessment - Held that:- Reopening of assessment by an AO based on the information received from the Director of Investigation without making any effort to discuss the materials on the basis on which he formed a prima facie opinion that income had escaped assessment. The basic requirement of Section 147 of the Act that AO should apply an mind in order to form reasons to believe that income had escaped assessment had not been fulfilled.The ITAT was, in the circumstances, justified in holding the initiation of the reassessment proceedings was invalid. - Decided in favour of assessee
|