ITAT stated that the reassessment made u/s.147 of the Income Tax Act, 1961 cannot be justified solely on the basis of a change of opinion by the AO
In a recent judgement, the Raipur bench of the Income Tax Appellate Tribunal (ITAT) held that reassessment cannot be done based on a mere change of opinion under section 147 of the Income Tax, 1961. The assessee, Rahul Bajpai, purchased a property for ₹4,11,000, a value that is significantly lower than its fair market value…
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.)
₹2299 + GST for 1 year
Subscribe Now
Already Subscribed?
Login Now 
