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Reassessment u/s 147 Income Tax Act, whether falling within the proviso to section 147 i.e. beyond permissible time. Hon’ble Supreme Court Of India in M/S Mangalam Publications versus Commissioner of Income Tax, Kottayam arising out of Civil Appeal Nos. 8580-8582 of 2011 upheld the findings of the Tribunal and restored by setting aside High Court Order.
The assessee is carrying on the business of publishing newspaper, weeklies and other periodicals in several languages under the brand name “Mangalam” : Brief of assessment u/s143 (3) and reassessment orders u/s 144/147 related to AY’s 1990-91 , 1991-92 and 1992-93 are : For Asst Year 1990-91 – Revised Computation showing income of Rs.5,63,920/- on/against…
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