Reopening of assessment u/s 147 - As per the provisions of ...

Reassessment Proceedings Invalidated: Section 147 Set Aside Due to Non-Compliance with Section 149(1)(b) Criteria.

November 1, 2022

Case Laws Income Tax AT

Reopening of assessment u/s 147 - As per the provisions of section 149(1)(b) where 4 years, but not more than 6 years, have elapsed, no notice under section 148 can be issued unless the income chargeable to tax which has escaped assessment is Rs. 1 lakh or more. - As the requirement of provisions of section 149(1)(b) of the Act are not fulfilled in the present case, therefore, the reassessment proceedings under section 147 of the Act are set aside being bad in law - AT

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Reopening of assessment u/s 147 - As per the provisions of ...

Reassessment Proceedings Invalidated: Section 147 Set Aside Due to Non-Compliance with Section 149(1)(b) Criteria.

November 1, 2022

Case Laws Income Tax AT

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