No reassessment on issue already disclosed in return of income

Price Waterhouse & Co. Vs DCIT (ITAT Kolkata)

Conclusion: Since the addition on basis for which AO reopened assessment  had already been disclosed by assessee in the return of income filed by him u/s 139(1), AO having not carried out the scrutiny assessment within the prescribed statutory limit, could not be given another innings for no fault of  assessee and therefore, the ‘reason to believe’ which was the jurisdictional precondition to reopen the assessment as required by the law had not been met

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