Supreme Court: Amalgamating Company Loss Cannot be Set Off Against Amalgamated Income  ||  Supreme Court: Hostile Witness Deposition Admissible to the Extent it is Found Credible and Reliable  ||  SC Upholds Penalty on Bank For Delay in Cheque Presentation under Consumer Protection Act  ||  Karnataka High Court Orders Strict Statewide Implementation of Menstrual Leave Policy  ||  Delhi HC: Emergency Arbitrator Awards are Not Binding on Indian Courts in Interim Relief Proceedings  ||  Del HC Imposes ?10L Fine on Parle Agro For Non-Disclosure of Sales Revenue in Pepsico Trademark Case  ||  Supreme Court: Spouse Cannot Withdraw Consent for Mutual Divorce After Settlement Agreement  ||  Supreme Court Suspends PC Act Sentence of Former Minister Anosh Ekka, Flags Overlapping CBI Cases  ||  Supreme Court: Magistrate’s Probe Order Can’t be Quashed on Accused’s Defence  ||  Delhi High Court: No Adverse Inference if Handwriting Sample Refused Without Section 73 Disclosure    

Karnataka HC: Mere Reason to Believe Cannot Be Ground of Assessment Under Section 147 of IT Act - (16 Feb 2024)

DIRECT TAXATION

Karnataka High Court held that Assessing Officer has to be satisfied that that there is escapement of income and unlike earlier the mere reason to believe cannot be a ground for carrying out assessment under Section 147 of the Income Tax Act, 1961.

Tags : KARNATAKA HIGH COURT   ASSESSING OFFICER   S. 147 OF IT ACT  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved