239 results for “reassessment u/s 147”+ Section 41(1)clear
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In the result, appeal of the assessee is partly allowed
Bench: Shri Rajpal Yadav & Shri Waseem Ahmed
41. We are of the view that reassessment proceedings under Section 147 of the Act are for the benefit of the revenue and not for the assessee as held by the Hon'ble Supreme Court in the case of CIT v. Sun Engg. Works (P.) Ltd. [1992] 198 ITR 297 (SC)/64 Taxman 442. It is not for the taxpayer