Reopening of assessment u/s 147 - It cannot be stated that the ...

Assessment Reopened u/s 147 Due to Unexplained Inventory Value Reduction; Legal Precedents Deemed Irrelevant.

April 30, 2021

Case Laws Income Tax HC

Reopening of assessment u/s 147 - It cannot be stated that the impugned notice has been issued merely on account of change of opinion. Further, the petitioner has also not clearly explained how a reduction in the value of inventory was made at the time of filing of the returns. In these proceedings, the petitioner is hiding behind the cloak of the few ratios of the Court which may not be applicable to the facts of the case. - HC

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Reopening of assessment u/s 147 - It cannot be stated that the ...

Assessment Reopened u/s 147 Due to Unexplained Inventory Value Reduction; Legal Precedents Deemed Irrelevant.

April 30, 2021

Case Laws Income Tax HC

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