Where reopening notice was issued after more than four years on the basis of vague reasons relating to alleged unexplained credits, and the Assessing Officer subsequently sought to improve or supplement reasons while disposing of the assessee’s objections, since reasons recorded had to be read as recorded and could not be substituted, supplemented or improved upon by the Assessing Officer, and the recorded reasons did not allege any failure on the part of the assessee to disclose material facts, the reopening notice and order rejecting objections were quashed and set aside. (AY. 2013-14)<\/p>\n","protected":false},"excerpt":{"rendered":"
S.147: Reassessment-After the expiry of four years-Reasons recorded for reopening-Vague reasons relating to alleged unexplained credits, and the Assessing Officer subsequently sought to improve or supplement reasons while disposing of the assessee’s objections-Recorded reasons did not allege any failure on the part of the assessee to disclose material facts-Reopening notice and order rejecting objections were quashed and set aside.[S.68, 148, Art. 226]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-64829","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-gRD","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/64829","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=64829"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/64829\/revisions"}],"predecessor-version":[{"id":64830,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/64829\/revisions\/64830"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=64829"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=64829"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=64829"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}