The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has held that the re-assessment cannot be made on the basis of the audit report. The assessee`s main business is manufacturing and trading of irons. For the relevant period, the reassessment proceedings under section 147 of the Income Tax Act, 1961 was initiated with the […]
The post Re-Assessment can’t be made on the basis of Audit Query: ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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