Audit Objection Insufficient for Reopening Assessment: AO Needs Independent Satisfaction u/ss 147/148, Assessment Under 143(3.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Audit objection cannot be considered as tangible material for the AO to reopen u/s 147/148 of the Act concluded assessment u/s 143(3) of the Act, unless the AO records his own satisfaction that income has escaped assessment - AT....