Thursday, September 17, 2020

AO to reopen cases of subsequent AYs if assessee claimed of paying taxes in subsequent years on sale of power units

INCOME TAX : Where assessee engaged in generation of power prayed for deletion of impugned additions made under normal provisions of Act as well as under section 115JB on ground that receipts from sale of power to Tamilnadu Generation and Distribution Corporation had been subjected to tax in subsequent year, Assessing Officer was to be directed to reopen assessments from years 2010-11 to 2014-15 on this issue alone and examine whether assessee had paid taxes on these receipts,

from www.taxmann.com Latest Case Laws https://ift.tt/2FO5lsF

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