Court Sets Aside Reassessment Notice; AO Cannot Reopen u/s 147 Without New Evidence Beyond Initial Findings.

Court Sets Aside Reassessment Notice; AO Cannot Reopen u/s 147 Without New Evidence Beyond Initial Findings. https://www.taxtmi.com/highlights?id=46021 Reassessment u/s 147 - once the AO noticed the factum of bogus purchases and accommodation entries and in scrutiny assessment and taxed in the manner he thought was appropriate, he cannot be allowed to shift the stand by issuing notice of reopening of assessment without any further material available - mere change of opinion - notice set aside en-us Mon, 22 Apr 2019 09:40:46 +0530 Mon, 22 Apr 2019 09:40:46 +0530 TaxTMI RSS Generator Court Sets Aside Reassessment Notice; AO Cannot Reopen u/s 147 Without New Evidence Beyond Initial Findings. https://www.taxtmi.com/highlights?id=46021 Reassessment u/s 147 - once the AO noticed the factum of bogus purchases and accommodation entries and in scrutiny assessment and taxed in the manner he thought was appropriate, he cannot be allowed to shift the stand by issuing notice of reopening of assessment without any further material available - mere change of opinion - notice set aside Highlights Income Tax Mon, 22 Apr 2019 09:40:46 +0530 https://www.taxtmi.com/highlights?id=46021