https://www.taxtmi.com/caselaws?id=765693 The Gauhati HC upheld the validity of reopening assessment proceedings under Section 147 of the Income Tax Act. The court held that the Assessing Officer can assess income that escaped assessment and was discovered during reopening proceedings, even if not specifically mentioned in the reopening order. The case involved additions under Section 68 for bogus accommodation entries and unexplained credits. Following precedents from Punjab & Haryana HC in Mehak Finvest Pvt. Ltd. and Karnataka HC in N. Govindaraju, the court decided in favor of the revenue department. en-us Thu, 30 Jan 2025 00:00:00 +0530 Fri, 07 Feb 2025 08:38:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765693 The Gauhati HC upheld the validity of reopening assessment proceedings under Section 147 of the Income Tax Act. The court held that the Assessing Officer can assess income that escaped assessment and was discovered during reopening proceedings, even if not specifically mentioned in the reopening order. The case involved additions under Section 68 for bogus accommodation entries and unexplained credits. Following precedents from Punjab & Haryana HC in Mehak Finvest Pvt. Ltd. and Karnataka HC in N. Govindaraju, the court decided in favor of the revenue department. Case-Laws Income Tax Thu, 30 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765693