Reassessment of Income u/s 153A impermissible without Incriminating Evidence: Karnataka HC upholds Deletion of Assessed Income [Read Order]

The Matter sought to assess the scope of powers exercisable by Assessing Officers under Section 153A of the Income Tax Act, 1961
Income Tax - Income Tax Appeal - Assessing Officer - Reassessment of Income - TAXSCAN

The Karnataka High Court recently held in an Income Tax Appeal that the provisions under Section 153A of the Income Tax Act, 1961 does not permit an Assessing Officer ( AO ) to reassess the income of an Assessee in the absence of objective incriminating evidence unearthed during the course of search under Section 132….

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