Tuesday, 10 September 2013

Reassessment to recompute book profits u/s 115JB not allowed

IT: Where Assessing Officer had reopened assessment of assessee after a period of four years from end of relevant assessment year for reason that book profit was under assessed, since in reasons recorded there was no mention at all of assessee having not disclosed fully or truly material facts which were necessary for purpose of computing income, reopening of assessment lacked validity


No comments:

Post a Comment