Notice U/s 148 - Reassessment - escaped income - once the basic or primary facts have been disclosed, the burden to prove that amounts represents undisclosed income of the assessee is on the Revenue

Notice U/s 148 - Reassessment - escaped income - once the basic or primary facts have been disclosed, the burden to prove that amounts represents undisclosed income of the assessee is on the Revenue https://www.taxtmi.com/news?id=864 Once the basic or primary facts have been disclosed, the onus lies on the Revenue to prove that amounts represent undisclosed income; a mere change of opinion does not justify reopening-there must be new material constituting a reason to believe that income escaped assessment. en-us Wed, 27 May 2009 23:00:52 +0530 Wed, 27 May 2009 23:00:52 +0530 TaxTMI RSS Generator Notice U/s 148 - Reassessment - escaped income - once the basic or primary facts have been disclosed, the burden to prove that amounts represents undisclosed income of the assessee is on the Revenue https://www.taxtmi.com/news?id=864 Once the basic or primary facts have been disclosed, the onus lies on the Revenue to prove that amounts represent undisclosed income; a mere change of opinion does not justify reopening-there must be new material constituting a reason to believe that income escaped assessment. News - Wed, 27 May 2009 23:00:52 +0530 https://www.taxtmi.com/news?id=864