intimation u/s 143(1)
This query is : Resolved
26 May 2011
If an Assessing officer is ignorant of any Supreme court judgment. And he has allowed any expence of an assessee (which otherwise would have been disallowed as per SC ruling) and completed the assessment. Later on he got the knowledge of the above ruling of SC. Then whether, the AO can go for Reassessment U/s 147
26 May 2011
Yes. He can reassess the income.
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