AO Properly Reopens Assessment u/s 148 Due to Lack of Evidence Linking Seized Documents to Appellant.

AO Properly Reopens Assessment u/s 148 Due to Lack of Evidence Linking Seized Documents to Appellant. https://www.taxtmi.com/highlights?id=60767 Reopening of assessment u/s 147 - In absense of meeting the mandatory requirement of belongingness of the seized documents with the appellant, the AO was not within his power to invoke the provisions of s. 153C of the Act in the present cases and therefore, in our considered view, the AO rightly dropped the proceedings so initiated u/s. 153C and was statutorily correct in invoking the provisions of s. 148 of the Act. - AT en-us Sat, 04 Dec 2021 08:43:30 +0530 Sat, 04 Dec 2021 08:43:30 +0530 TaxTMI RSS Generator AO Properly Reopens Assessment u/s 148 Due to Lack of Evidence Linking Seized Documents to Appellant. https://www.taxtmi.com/highlights?id=60767 Reopening of assessment u/s 147 - In absense of meeting the mandatory requirement of belongingness of the seized documents with the appellant, the AO was not within his power to invoke the provisions of s. 153C of the Act in the present cases and therefore, in our considered view, the AO rightly dropped the proceedings so initiated u/s. 153C and was statutorily correct in invoking the provisions of s. 148 of the Act. - AT Highlights Income Tax Sat, 04 Dec 2021 08:43:30 +0530 https://www.taxtmi.com/highlights?id=60767