TMI BlogValidity of Reopening of assessment u/s 147 - The entire basis for reopening the assessment is on the...Validity of Reopening of assessment u/s 147 - The entire basis for reopening the assessment is on the premise that there was a cash transaction of a huge amount, and having regard to the same, there was no true and full disclosure. We have already explained that this issue of cash transaction is nothing but a mere guess - There is no escapement of income chargeable to tax. - Notices quashed - HC ..... X X X X Extracts X X X X X X X X Extracts X X X X
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