Principles, powers & limitations on exercise of Section 147/148 powers

Uphill Farms Private Limited Vs Union of India (Allahabad High Court)

HC explains principles, powers and limitations on exercise of powers under Section 147/148 by Income Tax Officers/ Authorities under the Income tax Act, 1961, as under:-

(a) The assessing officer under Section 147 of the Act, 1961 has the power to re-assess any income which escaped assessment to tax for any assessment year subject to the provisions of Sections 148 to 15

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