HC explains Law on Section 148 Reopening for the 2nd time

T. Krishnamurthy Vs ITO (Madras High Court)

This is a case where details of investment in shares and immovable property were not originally disclosed by the petitioner at the time of filing of the original returns under section 139 of the Income-tax Act, 1961 for the respective assessment years. Therefore, two notices under section 148 of the Income-tax Act, 1961 were issued on 7-3-2011 for the respective assessment years.

Reassessment were thereafter completed however without complying with the mandatory requirement

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