AO reopened assessment on receipt of post-assessment information of unverified cash receipts and credit card expenses. These issues were outside the scope of the earlier limited scrutiny and not examined. High Court upheld reopening, leaving merits to assessment/appellate proceedings. (AY. 2016-17)
Sanjay Ratra v. ACIT (2025) 303 Taxman 168 / 476 ITR 323 /343 CTR 661 (Bom)(HC)
S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Cash credits-Reopening based on new information-Cash receipts & credit card expenses-Reassessment notice is affirmed. [S. 68, 148A(b), 148A(d), Art. 226]
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