Assessing Officer Can Reopen Tax Assessments Under Explanation 2 of Section 147 of the Income Tax Act.

Assessing Officer Can Reopen Tax Assessments Under Explanation 2 of Section 147 of the Income Tax Act. https://www.taxtmi.com/highlights?id=65884 Reopening of assessment u/s 147 - as per Explanation 2 of section 147, the Assessing Officer is free to reexamine correctness of a regular assessment and decide whether the tax assessed, rate applied, relief and allowances granted, etc., are in terms of the provisions of the Act and if not to revise the assessment in terms of section 147 of the Act. - HC en-us Fri, 30 Sep 2022 16:48:29 +0530 Fri, 30 Sep 2022 16:48:29 +0530 TaxTMI RSS Generator Assessing Officer Can Reopen Tax Assessments Under Explanation 2 of Section 147 of the Income Tax Act. https://www.taxtmi.com/highlights?id=65884 Reopening of assessment u/s 147 - as per Explanation 2 of section 147, the Assessing Officer is free to reexamine correctness of a regular assessment and decide whether the tax assessed, rate applied, relief and allowances granted, etc., are in terms of the provisions of the Act and if not to revise the assessment in terms of section 147 of the Act. - HC Highlights Income Tax Fri, 30 Sep 2022 16:48:29 +0530 https://www.taxtmi.com/highlights?id=65884