Reopening tax assessments u/s 147 is invalid if a Settlement Commission order exists, unless fraud is involved.

Reopening tax assessments u/s 147 is invalid if a Settlement Commission order exists, unless fraud is involved. https://www.taxtmi.com/highlights?id=47323 Reassessment u/s 147 - existence of Settlement Commission order in the relevant AY - concluded assessment by Settlement Commission u/s 245D(4) can only be reopened in case of fraud or misrepresentation of facts, as per section 245D(6) - the assumption of jurisdiction u/s 147 is invalid and without authority of law irrespective of sufficient material for the AO to form the belief for escaped assessment en-us Fri, 21 Jun 2019 08:55:20 +0530 Fri, 21 Jun 2019 08:55:20 +0530 TaxTMI RSS Generator Reopening tax assessments u/s 147 is invalid if a Settlement Commission order exists, unless fraud is involved. https://www.taxtmi.com/highlights?id=47323 Reassessment u/s 147 - existence of Settlement Commission order in the relevant AY - concluded assessment by Settlement Commission u/s 245D(4) can only be reopened in case of fraud or misrepresentation of facts, as per section 245D(6) - the assumption of jurisdiction u/s 147 is invalid and without authority of law irrespective of sufficient material for the AO to form the belief for escaped assessment Highlights Income Tax Fri, 21 Jun 2019 08:55:20 +0530 https://www.taxtmi.com/highlights?id=47323