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Reassessment u/s 147 cannot be initiated if Assessing Officer misinterpreted legal provisions in original assessment

Income TaxBy Ashish Ahuja January 2, 2012 Leave a comment

legal misinterpretation by Assessing Officer in framing original assessment cannot be the basis of initiation of Assessment Proceeding u/s 147

Reassessment u/s 147: No addition can be made on other grounds when the reasons for which reassessment undertaken cease to survive

Income TaxBy Ashish Ahuja January 2, 2012 Leave a comment

no addition can be made on other grounds, if the Assessing Officer doesn’t make any addition on the primary ground on the basis of which proceeding u/s 147 were initiated.