income

Income Tax Department powers u/s 263 of Income Tax Act

February 15, 2011

TweetDelhi High Court ruled that the Income Tax Department cannot take recourse to revisional powers under Section 263 of the Income Tax Act to re-open an assessment based on fresh inference of transactions which have been carried on by the assessee and accepted in-turn by the Department for several preceding years on the pretext of dubbing them [...]

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