ITAT Quashed the Assessment order as Actual Income Escapement was below ₹ 50 Lakhs Recently, the ITAT has quashed the assessment Order as AO Reopened Case for AY 2015-16 Alleging Income Escapement Above ₹50 Lakhs, But Actual Escapement Was below ₹ 50 Lakhs, Making Reopening Invalid” The Income Tax Appellate Tribunal (ITAT) concluded that the notice issued under Section…
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