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Income Tax - Highlights / Catch Notes

Home Highlights September 2022 Year 2022 This

Reopening of assessment u/s 147 - AO has made addition on the ...

Income Tax

September 11, 2022

Reopening of assessment u/s 147 - AO has made addition on the basis of the borrowed satisfaction. He has not applied his mind and in our opinion, he ought to have done independent home work but in the present case no such exercise was done by the learned AO for the reason best known to him. Therefore, in our considered opinion, in such case, addition cannot be made. - AT

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