Section 147 ::
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.
CA.Saibaburao Nanduri
Published in Income Tax
Views : 61
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