Reopening-s.143(1),-Inflation of profits

[rajul5234]

SCA 12303 / 2014. Dt. 4/11/15. M/s.Aavkaar infrastructure company.

Gujarat high court held that A.O. has to record a finding in the reason for reopening that there is understatement of investment for inflation of profit for availing higher exemption/deduction and he cannot merely fall back on DVO report.

R K Patel