TMI BlogMerely having a reason to believe that income had escaped assessment is not sufficient to reopen...Merely having a reason to believe that income had escaped assessment is not sufficient to reopen assessments beyond 4 year period. Escapement should be linked with failure on the part of assessee to fully and truly disclose all the material facts necessary for assessment. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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