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of <h1>CBDT Clarifies Tax Assessment Reopening Rules: Increased Turnover from Digital Payments Not Sole Reason u/s 147.</h1> The circular issued by the Central Board of Direct Taxes (CBDT) under section 119 of the Income-tax Act, 1961, addresses concerns regarding the reopening of past tax assessments due to increased turnover resulting from digital payment adoption. It clarifies that cases can only be reopened under section 147 if there is a reason to believe that income has escaped assessment, not merely due to increased turnover. Assessing Officers are advised against reopening past assessments solely based on current year's increased turnover. Compliance with this directive is emphasized.
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