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Income Tax - Highlights / Catch Notes

Home Highlights December 2022 Year 2022 This

Reopening of Assessment u/s 147 - change of opinion - By change ...

Income Tax

December 19, 2022

Reopening of Assessment u/s 147 - change of opinion - By change of opinion holding that reduction towards reversal on account of cancellation and price revision and deducting the same from the profit and loss account was irregular thereby having reason to believe that taxable income had escaped assessment, the concluded assessment could not have been reopened. - HC

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