Dismissing the petition the Court held that as per the information from DDIT (investigation) it was found that the assessee is\u00a0 purchasing and selling of shares in systematic evasion of taxes by clients\u00a0 by misuse of NMCE platform.\u00a0 Accordingly the issue of reassessment notice is held to be justified as the AO has formed a prima facie view that income chargeable to tax has escaped the assessment which was accepted u\/s 143(1) of the Act. (AY. 2012-13)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 147 : Reassessment\u2013After the expiry of four years- Information from DDIT (investigation)\u2013Purchasing and selling of shares- Systematic evasion of taxes by clients by misuse of NMCE platform\u2013Reassessment notice is held to be justified. [S.143(1), 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_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-9916","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-2zW","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/9916","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=9916"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/9916\/revisions"}],"predecessor-version":[{"id":9917,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/9916\/revisions\/9917"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=9916"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=9916"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=9916"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}