Assessee firm Made a declaration under IDS 2016 disclosing regular income for AY 2016-17. However, could not make payment 3rd installment. On the basis of invalid declaration of IDS , 147 notice for AY 2016-17 was issued and assessment was completed by considering the income declared under IDS -2016. Assessee filed an appeal against the said order and since appeal was pending , opted for VSVS and complied with all conditions and also received form 5. Again notice u/sec 147 is issued on 31.03.2020 for AY 2017-18 on the ground of invalid IDS declaration. Whether action of AO is justified…
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Reassessment u/sec. 147