Validity of reopening of assessment u/s 147 - Reason to believe ...

Court Denies Reopening of Assessment Due to Lack of New Tangible Material Post-Audit Objections.

March 23, 2024

Case Laws Income Tax HC

Validity of reopening of assessment u/s 147 - Reason to believe - The court scrutinized the purported tangible material for reopening, which consisted of audit objections received after the original assessment. However, it noted that the objections had been duly explained by the petitioner during the original assessment proceedings, and the assessing officer had found the explanations satisfactory. Therefore, the court concluded that there was no fresh tangible material justifying the reopening of the assessment.

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Validity of reopening of assessment u/s 147 - Reason to believe ...

Court Denies Reopening of Assessment Due to Lack of New Tangible Material Post-Audit Objections.

March 23, 2024

Case Laws Income Tax HC

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