Reopening justified as it is based on material satisfying that income has escaped assessment

Akshat Pramodkumar Chaudhary Vs DCIT (Gujarat High Court)

Gujarat High Court held that in case reopening of assessment based on material which satisfied to harbour reasons to believe that there was escapement of income, then, such reopening of assessment is justifiable.

Facts- The assessee received income from business and profession and interest income for the year 2012-13. The assessee also received proceeds from sale from share of Twenty First Century (I) Limited. The a

Please become a Premium member. If you are already a Premium member, login here to access the full content.