reason for reassessment u/s 147

Income Tax
[Sec 147] Reopening not justified only on the basis of Reversal of Law by higher court
The Honorable Supreme Court in its judgement dated 11th September, 2012 has held that change in legal position due to reversal of a judgement by a higher court is not…
Read More [Sec 147] Reopening not justified only on the basis of Reversal of Law by higher court
Income Tax
Reassessment u/s 147 cannot be initiated if Assessing Officer misinterpreted legal provisions in original assessment
legal misinterpretation by Assessing Officer in framing original assessment cannot be the basis of initiation of Assessment Proceeding u/s 147
Read More Reassessment u/s 147 cannot be initiated if Assessing Officer misinterpreted legal provisions in original assessment