Reopening of assessment u/s 147 - The assessee had made full ...

Assessing Officer's Reassessment u/s 147 for Capital Gains Deduction Challenged as Change of Opinion.

November 11, 2022

Case Laws Income Tax HC

Reopening of assessment u/s 147 - The assessee had made full disclosure regarding the facts and circumstances in which the said amount was paid. It is obvious that the AO had considered the allowability of such deduction. The AO now seeks to re-assess the assessee’s income on the ground that the amount paid by the assessee to his sisters was not deductible from the sale consideration for the purpose of computing capital gains. This is clearly a case of change of opinion. - HC

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Reopening of assessment u/s 147 - The assessee had made full ...

Assessing Officer's Reassessment u/s 147 for Capital Gains Deduction Challenged as Change of Opinion.

November 11, 2022

Case Laws Income Tax HC

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