1. Search Case laws by Section / Act / Rule — now available beyond Income Tax. GST and Other Laws Available
2. New: “In Favour Of” filter added in Case Laws.
Try both these filters in Case Laws →
TaxTMI Login
🚀 New: Section-Wise Filter ✕
Just a moment...
1. Search Case laws by Section / Act / Rule — now available beyond Income Tax. GST and Other Laws Available
2. New: “In Favour Of” filter added in Case Laws.
Try both these filters in Case Laws →
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Highlights
of of All Highlights
Note
Bookmark
Share
Don't have an account? Register Here
of The HC upheld the Appellate Tribunal's decision that reassessment under Section 147 was invalid. Although Explanation 1 to Section 147 states that mere production of evidence before the AO does not constitute disclosure under the first proviso, the disputed amounts (Rs. 594.33 lakhs and 438.96 lakhs) had been available and reviewed by the AO during the original assessment under Section 143(1). Therefore, invoking Section 148 for reassessment under Section 143(3) read with Section 147 lacked jurisdiction. The Court noted that while the assessee should have properly written off non-performing assets under Section 36(1)(vii), the substantial questions of law were resolved in the assessee's favor.
TaxTMI 
TaxTMI 
