Reopening of 2005-06 tax assessment upheld beyond four years under Explanation 1, Section 147 of Income Tax Act.

Reopening of 2005-06 tax assessment upheld beyond four years under Explanation 1, Section 147 of Income Tax Act. https://www.taxtmi.com/highlights?id=17817 Validity of reopening of assessment u/s 147 - Though the assessment of the assessment year 2005-06 was reopened beyond the period of four years, yet the same has to be upheld in view of the Explanation 1 to sec. 147 - AT en-us Sat, 22 Mar 2014 10:11:59 +0530 Sat, 22 Mar 2014 10:11:59 +0530 TaxTMI RSS Generator Reopening of 2005-06 tax assessment upheld beyond four years under Explanation 1, Section 147 of Income Tax Act. https://www.taxtmi.com/highlights?id=17817 Validity of reopening of assessment u/s 147 - Though the assessment of the assessment year 2005-06 was reopened beyond the period of four years, yet the same has to be upheld in view of the Explanation 1 to sec. 147 - AT Highlights Income Tax Sat, 22 Mar 2014 10:11:59 +0530 https://www.taxtmi.com/highlights?id=17817