2 results for “reassessment u/s 147”+ Section 80C(2)(xvii)clear
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147 was invalid in law as: a) The conditions precedent for assumption of jurisdiction were not satisfied; b) There was no tangible material linking any income escapement to the appellant; c) The notice u/s 148 was issued mechanically based only on search information of other entities (M/s Ira Group) without independent application of mind; and d) Accordingly, the reassessment order