Tuesday, July 24, 2018

Limitation period starts from original assessment if sec. 263 raises issues not subject to re-assessment proceedings

IT: When a notice under section 263 raises new issues, which are not subject matter of re-assessment proceedings, then two year period contemplated under sub-section (2) of section 263 would begin to run from date of original assessment and not from date of re-assessment

from www.taxmann.com Latest Case Laws https://ift.tt/2Aft0iT

No comments:

Post a Comment

AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...