Thursday, 11 July 2013

Reassessment unsustainable as reasons of AO were based on an assessment order set-aside by CIT(A)

IT : Where material on which Assessing Officer had formed belief as regards escapement of income was assessment order for year 2006-07, which on date of reopening of assessment for year under consideration was set aside by Commissioner (Appeals) and as such had no existence in eyes of law, reopening of assessment could not be sustained


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