Tribunal held that Assessing Officer never formed an opinion that there was escapement of income in hands of company. Accordingly the reassessment is held to be not valid. (AY. 1996-97 , 1997 -98)
Awanindra Singh. v. DCIT (2019) 176 ITD 355/ 180 DTR 17 / 200 TTJ 427 (Delhi)(Trib.)/Computerland Integrators (India) Ltd v Dy CIT ( 2019) 200 TTJ 427 /180 DTR 17 ( Delhi) (Trib)
S. 147 : Reassessment-Share capital-Assessing Officer never formed an opinion that there was escapement of income-Reassessment is held to be not valid. [S. 68, 148].