COMMISSIONER OF INCOME TAX (EXEMPTIONS) vs. M/S. ROLAND EDUCATIONAL AND CHARITABLE TRUST

Bench: DR. JUSTICE S. MURALIDHAR (CJ),MR. JUSTICE MURAHARI SRI RAMAN

24. The reopening of assessment under section 147 is a potent power not to be lightly exercised. It certainly cannot be invoked casually or mechanically. The heart of the provision is the formation of belief by the Assessing Officer that income has escaped assessment. The reasons so recorded have to be based on some tangible material and that should

PRINCIPAL COMMISSIONER OF INCOME TAX 1 vs. PARBATI MOHAPATRA

Bench: DR. JUSTICE S. MURALIDHAR (CJ),MR. JUSTICE MURAHARI SRI RAMAN