Issuance of notice u/s 148 of Income Tax Act for Reassessment shall not be made without Reasonable Belief: ITAT [Read Order]

Issuance - notice - Income- Tax -Act - Reassessment - Reasonable -Belief-ITAT-taxscan

The Income Tax Appellate Tribunal (ITAT) Kolkata Bench held that the issue of notice under Section 148 of Income Tax Act, 1961 for reopening of assessment should not be made without reasonable belief. Assessee, Purulia Central Cooperative Bank Limited filed its return of income  in compliance to a notice issued under section 142(1) Income Tax…

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