Change of Opinion by AO not Justification for assuming Income Chargeable to Tax by AO: Bombay HC [Read Order]

Bombay HC rules that change of opinion by the AO is not justification for assuming income chargeable to tax

By Kalyani B. Nair - On February 28, 2024 10:18 am - 2 mins read

Bombay High Court - Assessing Officer - Income Chargeable to Tax - Income Tax - TAXSCAN

The Bombay High Court recently ruled that change of opinion by the Assessing Officer ( AO ) is not justification for assuming income chargeable to tax. An assessment order came to be passed in which, it is stated that the case was selected for limited scrutiny assessment on the issues relating to investments in immovable…

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