Reopening of assessment u/s 147 - AO recorded his satisfaction ...

Assessment Reopening u/s 147 Invalid: No Addition Made on Initial Income Escapement Issue; Share Capital Additions Not Permissible.

May 7, 2019

Case Laws Income Tax AT

Reopening of assessment u/s 147 - AO recorded his satisfaction about escapement of income for sale of investments - no addition made on this issue - addition made for issued of share capital to twenty two share subscribing companies - not permissible Unless in the order u/s 147 the AO makes addition on the ‘foundational’ issue for which the reason was recorded

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Reopening of assessment u/s 147 - AO recorded his satisfaction ...

Assessment Reopening u/s 147 Invalid: No Addition Made on Initial Income Escapement Issue; Share Capital Additions Not Permissible.

May 7, 2019

Case Laws Income Tax AT

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