Explanation 3 to Section 147 of Income Tax Act cannot be extended to make New Addition beyond Initial Reopening Assessment Reasons: ITAT quashes Order [Read Order]
No addition is made on the basis of the reasons to believe recorded by the Assessing Officer for reopening the assessment under Section 148 of the Income Tax Act, 1961
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) quashed the assessment order as no addition was made based on the reason to believe recorded by the Assessing Officer ( AO ) for reopening the assessment under section 148 of the Income Tax Act, 1961. On the facts and circumstances of the…
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