Reopening of assessment u/s 147 - validity of reason to believe ...

Income Tax

November 19, 2019

Reopening of assessment u/s 147 - validity of reason to believe - ‘borrowed satisfaction’ of the DDIT (Inv.) - The repetition of certain portions of the investigation report of DDIT without any reasons independently recorded by the AO on the basis of ‘borrowed satisfaction’ of the DDIT (Inv.) cannot be the basis for reopening of assessment u/s. 147 of the Act.

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Reopening of assessment u/s 147 - validity of reason to believe ...

Income Tax

November 19, 2019

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