https://www.taxtmi.com/highlights?id=34558 Reopening of assessment u/s 147 - Company had no cash balance in the last year for the purchase of property in cash as well as the Company cannot take unsecured loan or advance from customer in cash - it cannot be said that there was no tangible material with the A.O. to form an opinion that income chargeable to tax has escaped assessment - HC en-us Fri, 28 Apr 2017 12:29:43 +0530 Fri, 28 Apr 2017 12:29:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=34558 Reopening of assessment u/s 147 - Company had no cash balance in the last year for the purchase of property in cash as well as the Company cannot take unsecured loan or advance from customer in cash - it cannot be said that there was no tangible material with the A.O. to form an opinion that income chargeable to tax has escaped assessment - HC Highlights Income Tax Fri, 28 Apr 2017 12:29:43 +0530 https://www.taxtmi.com/highlights?id=34558