Reopening assessments should not be based solely on increased turnover from digital payments; requires reason to believe escaped income. Reopening an assessment under section 147 requires that the Assessing Officer has reason to believe that income chargeable to tax has escaped assessment; mere increase in turnover, including due to digital payments, cannot alone constitute that reason. Assessing Officers are directed not to reopen past assessments solely on the ground of increased current year turnover absent independent material indicating escaped income.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Reopening assessments should not be based solely on increased turnover from digital payments; requires reason to believe escaped income.
Reopening an assessment under section 147 requires that the Assessing Officer has reason to believe that income chargeable to tax has escaped assessment; mere increase in turnover, including due to digital payments, cannot alone constitute that reason. Assessing Officers are directed not to reopen past assessments solely on the ground of increased current year turnover absent independent material indicating escaped income.
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