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Income Tax - Highlights / Catch Notes

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Reopening of assessment u/s 147 - In the reasons for reopening, ...

Income Tax

May 21, 2020

Reopening of assessment u/s 147 - In the reasons for reopening, AO has not nowhere indicated that the business loss suffered by the assessee can be treated speculation loss and only in the revised assessment order, AO came to the conclusion that this loss can only be speculation loss. - the re-assessment order is only a change of opinion.

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