Reopening Assessment u/s 147 Upheld: Assessee Failed to Submit Books of Accounts, Not Entitled to Proviso Benefit.

Reopening Assessment u/s 147 Upheld: Assessee Failed to Submit Books of Accounts, Not Entitled to Proviso Benefit. https://www.taxtmi.com/highlights?id=61464 Reopening of assessment u/s 147 - assessee has submitted only confirmation, ITR and bank statement; however books of accounts were not submitted before Assessing Officer. Moreover, the reasons recorded by the Assessing Officer are in accordance with law. Therefore, assessee cannot take the benefit of first proviso to section 147 of the Act. - AT en-us Sat, 15 Jan 2022 12:11:12 +0530 Sat, 15 Jan 2022 12:11:12 +0530 TaxTMI RSS Generator Reopening Assessment u/s 147 Upheld: Assessee Failed to Submit Books of Accounts, Not Entitled to Proviso Benefit. https://www.taxtmi.com/highlights?id=61464 Reopening of assessment u/s 147 - assessee has submitted only confirmation, ITR and bank statement; however books of accounts were not submitted before Assessing Officer. Moreover, the reasons recorded by the Assessing Officer are in accordance with law. Therefore, assessee cannot take the benefit of first proviso to section 147 of the Act. - AT Highlights Income Tax Sat, 15 Jan 2022 12:11:12 +0530 https://www.taxtmi.com/highlights?id=61464