Procedure of re-assessment u/s 147

| Last updated: 25 June 2015

Assessment is a procedure adopted to determine the correctness of the income disclosed by the assessee and tax payable thereon. Than what is reassessment and why there is need of reassessment? Section 147 and 148 of Income Tax Act is a well designed weapon for the Income Tax Department empowering it
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CA Pawan Maloo

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Practicing Chartered Accountant

A Practicing Chartered Accountant.

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