AO can initiate proceedings either u/s 143(2) or 147 of IT Act before completion of Assessment of Deemed Income Escapement: ITAT

AO can initiate proceedings either u/s 143(2) or 147 of IT Act before completion of Assessment of Deemed Income Escapement: ITAT - TAXSCAN

The Delhi bench of Income Tax Appellate Tribunal (ITAT) has recently held that assessing officers could initiate proceedings either under Sections 143(2) or 147 of Income Tax Act, 1961 before completion of assessment in case of deemed income escapement. Ajay Vohra, advocate apperad for the assesee.Kanv Bali, advocate appeard for the revenue. Assessee Sahara India Power…

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