FeaturedWritten by Anil B.
PCIT vs. N.S. SOFTWARE (FIRM)
Did the ITAT fall into error in quashing the assessment on the ground that it was not based upon a notice under Section 153C? – Held No
In the present case, therefore, the failure of the AO to record a specific satisfaction as to how the recovered material belonged to the assessee in the note that preceded the notice issued under it, vitiates the assessments….if notice for pending assessments have not been issued, to take further proceedings, and the time has lapsed, the only condition when they can be taken forward, as if the satisfaction with respect materials seized are relatable to the assessee is through application of mind and not a mechanical one.
CA. VINAY MITTAL GHAZIABAD
Candidate Central Council Election 2018
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