HC upholds tax demand of Rs. 2,500 crores as issue of notice before making demand u/s 115-O not required

Income Tax : Section 115-O is a charging section on its own. The only difference between the regular assessment and Special Provisions (section 115-O to 115Q) is that under the regular assessment, the Authorities are required to verify the returns submitted by the assessee and the materials to ascertain the income escaped from assessment.

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