Reopening of assessment u/s 147 - Addition u/s 68 - No infirmity ...
Income Tax
September 15, 2022
Reopening of assessment u/s 147 - Addition u/s 68 - No infirmity in the order of the CIT(A). The information that there was no return filed by the assessee and there was substantial cash found deposited in the bank account of the assessee was sufficient for formation of belief of escapement of income, when the assessee did not explain the source of the same to the Revenue in the investigation conducted prior to the issuance of notice under section 148 - AT
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