https://www.taxtmi.com/highlights?id=60875 Reopening of assessment u/s 147 - Initiation of reassessment proceedings, u/s.148 of the Act and issued notice to the assessee was based on valid reason on the strength of new tangible material which was not before the AO during the original assessment proceedings. Therefore, we are unable to see any ambiguity, perversity or invalidity in the action of the AO in initiating reassessment proceedings, issuing notice u/s.148 of the Act and framing reassessment order u/s.143(3) r.w.s.147 of the Act. - AT en-us Fri, 10 Dec 2021 12:05:56 +0530 Fri, 10 Dec 2021 12:05:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=60875 Reopening of assessment u/s 147 - Initiation of reassessment proceedings, u/s.148 of the Act and issued notice to the assessee was based on valid reason on the strength of new tangible material which was not before the AO during the original assessment proceedings. Therefore, we are unable to see any ambiguity, perversity or invalidity in the action of the AO in initiating reassessment proceedings, issuing notice u/s.148 of the Act and framing reassessment order u/s.143(3) r.w.s.147 of the Act. - AT Highlights Income Tax Fri, 10 Dec 2021 12:05:56 +0530 https://www.taxtmi.com/highlights?id=60875