Monday 20 April 2015

Earlier assessments couldn't be held erroneous on ground of non-genuine transactions of subsequent y

IT/ILT: Where Assessing Officer passed earlier assessment order after examining all facts and evidences relating to transaction of know-how and DMF, Only because TPO in subsequent year took a view that purchase of technical know-how and DMF was not genuine; assessment order could not be revised under section 263

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