Karnataka High Court Allows Appeal in Income Tax Reassessment Case — Reassessment Invalid When Original Reasons Do Not Survive and Additions Made on New Grounds Without Proper Notice. The court held that under Section 147 of the Income Tax Act, 1961, the Assessing Officer cannot make additions on grounds different from those recorded in the Section 148 notice if the original reasons fail.
1 Jul 2015The appellant, Sri N Govindaraju, an individual assessee with income from house property, transport business, capital gains, and other sources, filed ...
