Reopening of Tax Assessment Valid u/s 147 Due to Non-Disclosure of Non-Resident Status by Assessee.

Reopening of Tax Assessment Valid u/s 147 Due to Non-Disclosure of Non-Resident Status by Assessee. https://www.taxtmi.com/highlights?id=54116 Validity of reopening of assessment u/s 147 - Income accrued in India - Assessee had shifted to the United States - period of stay in India - Since the assessee did not disclose the status of “non-resident” in the income tax return filed by the assessee anyway, and the reasons recorded for reopening the assessment can only be on the basis of material on record or the information coming in the possession of the AO - Reopening was justified. en-us Tue, 21 Jul 2020 10:54:19 +0530 Tue, 21 Jul 2020 10:54:19 +0530 TaxTMI RSS Generator Reopening of Tax Assessment Valid u/s 147 Due to Non-Disclosure of Non-Resident Status by Assessee. https://www.taxtmi.com/highlights?id=54116 Validity of reopening of assessment u/s 147 - Income accrued in India - Assessee had shifted to the United States - period of stay in India - Since the assessee did not disclose the status of “non-resident” in the income tax return filed by the assessee anyway, and the reasons recorded for reopening the assessment can only be on the basis of material on record or the information coming in the possession of the AO - Reopening was justified. Highlights Income Tax Tue, 21 Jul 2020 10:54:19 +0530 https://www.taxtmi.com/highlights?id=54116