Section 147 ::

Last updated: 29 September 2007

Court :
HC

Brief :
Held by the Hon`ble Bench that, the scope of section 147 of Income-tax Act, is not for reversing the earlier order suo motu. Therefore reassessment is not permissible on the basis of change of opinion.

Citation :
D.C.I.T Vs. Indian Syntans Investments Pvt. Ltd.

Section 147 D.C.I.T Vs. Indian Syntans Investments Pvt. Ltd. 06/30/2006 [2007] 293 ITR (AT) 177 (Chennai) Case Fact: Whether, reassessment is permissible on the basis of change of opinion? Decision: Held by the Hon`ble Bench that, the scope of section 147 of Income-tax Act, is not for reversing the earlier order suo motu. Therefore reassessment is not permissible on the basis of change of opinion.