Reopening of assessment - as alleged Petitioner was a ...

Income Tax

March 7, 2024

Reopening of assessment - as alleged Petitioner was a beneficiary of accommodation entries - Notices under Section 148A(b) were issued, alleging escaped income, followed by a subsequent notice clarifying errors. - Petitioner's response, supported by evidence, was rejected for failure to submit documents not initially requested. - The High Court quashed the rejection order and remanded the matter for reconsideration. The assessing officer was directed to provide a reasoned decision and justify the rejection of petitioner's evidence.

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Reopening of assessment - as alleged Petitioner was a ...

Income Tax

March 7, 2024

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