Friday 5 September 2014

No reassessment after 4 years to disallow exp. on TDS default if assessee had disclosed all facts du

IT : When it was not established that there was failure on part of assessee to disclose truly and correctly all material facts, assessment could not be reopened after expiry of four years to disallow interest on ground that no interest was offered on loan advanced and to disallow rent on ground that TDS was not deducted thereon


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