PRINCIPAL COMMISSIONER OF INCOME TAX-1, KOLKATA vs. ARSHIA GLOBAL TRADECOM PRIVATE LIMITED
In the result, the appeal filed by the revenue is allowed
ITAT/175/2021HC Calcutta13 Sept 2022
Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA
Section 143(2)Section 143(3)Section 147Section 148Section 260ASection 68
reassessment. It is
revealed from the said additional material available
on hand a reasonable belief is formed by the
Assessing Authority that income of the petitioner has
escaped
assessment
and
therefore,
once
the
reasonable belief is formulated by the Authority on
the basis of cogent tangible material, the Authority is
not expected to conclude at this stage the issue finally
