AO can initiate Reassessment Proceedings based on information from Investigation Wing: ITAT dismisses Appeal [Read Order]

AO - Reassessment Proceedings based on information from Investigation Wing - ITAT - TAXSCAN

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the Assessing Officer can initiate reassessment proceedings based on the information from the investigation wing. The assessee is a firm and for the year under consideration, filed its return of income declaring a total income of Rs.4,51,770. The return filed by the assessee…

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