The aspect of interpretation of the word "and" as "or", the existence of the word "also" is of a great significance, states ITAT

Last updated: 15 September 2021
Quick Summary
The Income Tax Appellate Tribunal (ITAT) has ruled that the word 'and' in tax law can be interpreted as 'or', particularly when the word 'also' is used. This interpretation is significant for how Assessing Officers can assess or reassess income that has escaped taxation. The tribunal agreed with the assessee's submission that Section 147(1) allows for the assessment of not only the income initially believed to have escaped but also any other income that comes to light during proceedings.

Court :
ITAT Jaipur

Brief :
The present appeal has been filed by the assessee against the order of the ld. CIT(A)-2, Jaipur dated 13/12/2019 for the A.Y. 2011-12.

Citation :
ITA No. 90/JP/2020

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