AO has Power to Reopen Case if there is any ‘Tangible Material ‘ Concluding Escape of Income from Assessment: ITAT [Read Order]

By Ipsita Das - On July 15, 2023 4:00 pm - 2 mins read

AO - Power - Reopen - Tangible Material - Escape - Income - Assessment - ITAT - taxscan

The Chennai Bench of Income Tax Appellate Tribunal (ITAT) held that in the absence of any new tangible material, the case could not be reopened on mere change of opinion,the reassessment proceedings were nothing but the review exercise undertaken by Assessing Officer (AO) which is impermissible. Therefore,the reassessment proceedings are bad in law and hence,…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?

Enjoy our website without interruptions from advertisements
Receive Daily newsletters
Receive realtime Telegram/Whatsapp news updates
Download original Judgements / Order / Notifications / Circulars, etc
Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)

₹1199 + GST for 1 year

Subscribe Now

Topics