171 results for “reassessment u/s 147”+ Section 201(1)clear
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In the result, both the appeals filed by the assessee stands allowed
Bench: Smt. Beena Pillai & Shri. Laxmi Prasad Sahu
reassessment u/s 147 of the I.T. Act was upheld to be correct. The Hon’ble High Court was considering the following substantial question of law:- “(1) Whether the Tribunal was justified in prescribing the time limit for initiation and completion of proceedings under sub-sections (1) and (1A) of Section 201