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of <h1>India Clarifies Tax Rules: Past Assessments Won't Reopen Solely Due to Increased Digital Payment Turnover u/s 147.</h1> The circular issued by the Government of India addresses concerns about the potential reopening of past income tax assessments due to increased business turnover resulting from the shift to digital payments. It clarifies that under section 147 of the Income-tax Act, 1961, cases can only be reopened if there is a reason to believe that income has escaped assessment, not merely due to an increase in turnover. The circular advises Assessing Officers against reopening past assessments solely based on increased current year turnover, ensuring taxpayers are not unnecessarily harassed. Compliance with this directive is emphasized.
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