whether section 147 of the income tax act can be invoked on the basis of audit party objection regarding allowance of expenditure.
CA MAYANK WADHERA
(CA CS CMA(I))
(789 Points)
Replied 05 January 2012
No SECTION 147 CAN NOT BE INVOKED BECAUSE AUDIT PARTY OBJECTION IS NOT REGARDED AS A SUBSTANTIAL REASON TO BELIEF
CA rahul
(BCOM(H) ACA)
(725 Points)
Replied 05 January 2012
but i read in vg sir module reason to believe inculde audit party obection
CA SANDESH MAHIPAL
(Practicing in GST and MSME )
(1985 Points)
Replied 05 January 2012
ON THE BASIS OF AUDIT PARTY OBJECTION AO CAN INVOKE 147 BECAUSE THIS IS A PART OF REASONS TO BELIEVE TO INVOKE 147
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