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1 result for “reassessment”+ Section 21(5)clear

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Key Topics

Section 260A2

PRINCIPAL COMMISSIONER OF INCOME TAX II vs. M/S TRANS ASIA CORPORATION LTD.

Appeal is allowed

ITA/58/2019HC Madhya Pradesh05 Dec 2019
Section 143(2)Section 147Section 148Section 260A

21,802/- for the assessment year 2007-08. Initially assessment under Section 143(2) of the Act was made at a total income of Rs.12,35,790/- but subsequently, the Assessing Officer found that the assessee failed to disclose full and true material facts for assessment. Accordingly, notice under Section 148 and also under Sections