Alternate statutory remedy governs GST assessment challenge, with statutory appeal preserved and limitation objection barred for the permitted filing ...
HC allowed the petition and set aside the impugned order and notice u/s 148A(b). AO failed to establish that petitioner had received any amount exceeding Rs. 50,00,000/- which escaped assessment. AO is required to form an opinion based on credible information contradicting petitioner's assertion that aggregate transaction value was less than Rs. 50,00,000/-. Merely stating transactions existed without substantiating higher value is insufficient for reopening assessment u/s 147.
HC allowed the petition and set aside the impugned order and notice u/s 148A(b). AO failed to establish that petitioner had received any amount exceeding Rs. 50,00,000/- which escaped assessment. AO is required to form an opinion based on credible information contradicting petitioner's assertion that aggregate transaction value was less than Rs. 50,00,000/-. Merely stating transactions existed without substantiating higher value is insufficient for reopening assessment u/s 147.
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