Wednesday, 29 July 2015

AO couldn't proceed with reassessment without disposing of objections of assessee which went to root

IT : Where assessee raised objection that he was not engaged in mining activities, rather it only purchased and exported iron ore, since objection went to roof of matter in determining whether related income was 'income from business' or 'other income', Assessing Officer could not initiate reassessment without disposing objection

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