Case Law Details
Case Name : ICICI Home Finance Co. Ltd. Vs The Assistant Commissioner of Income Tax (Bombay High Court)
Related Assessment Year :
Courts :
All High Courts Bombay High Court
Become a Premium member to Download.
If you are already a Premium member, Login here to access.
The power to reopen a completed assessment under Section 147 of the Act has been bestowed on the Assessing Officer, if he has reason to believe that any income chargeable to tax has escaped assessment for any assessment year. However, this belief that income has escaped assessment has to be the reasonable belief of the Assessing Officer himself and cannot be an opinion and/or belief of some other authority. In fact, the Supreme Court in the matter of India Eastern Newspaper Society v. Commissioner of Income Tax, New Delhi, reported in 119 ITR page 996 has held that whether an assessment ha...
This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Kindly Refer to
Privacy Policy &
Complete Terms of Use and Disclaimer.
very usefull decision, thanks to tax guru.