Audit objection- a reason to believe for sec 147?
This query is : Resolved
CA Pragnesh
(Querist)
23 September 2014
Does audit objection raise by the revenue audit team constitute a reason to believe for the AO to invoke reassessment under sec 147? You can assume that audit objection is supported by initial audit findings
Nikhil Kaushik
(Expert)
23 September 2014
please refer this. (in favor of assessee)
https://www.bcasonline.org/articles/artin.asp?324
https://www.bcasonline.org/articles/artin.asp?324
Nikhil Kaushik
(Expert)
23 September 2014
further refer https://www.incometaxindiapr.gov.in/incometaxindiacr/contents/CBDTFiles/Instructions/CBDTLaws/HTMLFiles/app1_101.htm
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