https://www.taxtmi.com/highlights?id=60339 Reopening of assessment u/s 147 - undisclosed activity of money lending and borrowing - the reasons for reopening of assessment has to be tested / examined only on the basis of the reasons recorded and those reasons cannot be improved upon and/or submissions much less substituted by an affidavit and/or oral submission. In the reasons for the reopening, the Assessing Officer does not state anywhere that specified person was an employee of petitioner. - HC en-us Mon, 01 Nov 2021 19:23:31 +0530 Mon, 01 Nov 2021 19:23:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=60339 Reopening of assessment u/s 147 - undisclosed activity of money lending and borrowing - the reasons for reopening of assessment has to be tested / examined only on the basis of the reasons recorded and those reasons cannot be improved upon and/or submissions much less substituted by an affidavit and/or oral submission. In the reasons for the reopening, the Assessing Officer does not state anywhere that specified person was an employee of petitioner. - HC Highlights Income Tax Mon, 01 Nov 2021 19:23:31 +0530 https://www.taxtmi.com/highlights?id=60339