Re-opening of assessment is not permissible for mere verification or for a fishing inquiry: High Court

INCOME TAX : For mere verification or for a fishing inquiry re-opening of assessment is not permissible, however, where there was tangible material as on date in hands of Assessing Officer that assessee had received shareholders funds from shell companies, and Assessing Officer, after due application of mind, had recorded a satisfaction of his own that income had escaped assessment, reopening of assessment was justified

from www.taxmann.com Latest Case Laws https://ift.tt/3lNBUIc