Mere Reason to Believe, cannot be Ground for Carrying out Assessment u/s 147 of Income Tax Act: Karnataka HC [Read Order]
Mere reason to believe, cannot be ground for carrying out assessment u/s 147 of Income Tax Act, rules Karnataka HC
By Kalyani B. Nair - On February 22, 2024 11:01 am - 2 mins read
The Karnataka High Court in a recent decision observed that mere reason to believe, cannot be a ground for carrying out assessment under Section 147 of the Income Tax Act, 1961. The petitions having substantially similar factual matrix and involving identical questions of law, sought to lay a challenge to the orders dated 31.3.2022 passed…
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