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1 result for “reassessment u/s 147”+ Section 249(4)(b)clear

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Key Topics

Section 363Section 44A3Section 1472Section 143(3)2Section 80P2

ACIT, BHUBANESWAR vs. M/S. NEELACHAL GRAMYA BANK, BHUBANESWAR

In the result, appeal filed by the revenue and cross objection

ITA 58/CTK/2015[2008-09]Status: DisposedITAT Cuttack12 Jul 2017AY 2008-09

Bench: S/Shri N.S Saini & Pavan Kumar Gadale

For Appellant: Shri B.K.Mohapatra, ARFor Respondent: Shri Kunal Singh, DR
Section 143(3)Section 144Section 147Section 148Section 2Section 22Section 36Section 44ASection 80PSection 80P(4)

b) the ITO had in consequence of information in his possession reason to believe that income chargeable to tax had escaped assessment for any assessment year. The fulfilment of the said conditions alone conferred jurisdiction on the Assessing Officer to make a back assessment, but in section 147 with effect from 1-4-1989 those conditions are given