Reopening of Assessment u/s 147 can’t be initiated when no Transfer took place on Account of JDA entered by “Group of Assessee”: ITAT [Read Order]

The transfer that has taken place according to the 2nd JDA cannot give rise to the reopening of the case concerning the 1st JDA.
By Sunayana Dhal - On December 24, 2023 10:01 pm - 2 mins read
Reopening of Assessment Transfer took place on Account of JDA entered Group of Assessee ITAT - TAXSCAN

The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) held that reopening of the assessment under Section 147 of the Income Tax Act, 1961 cannot be initiated when no transfer took place on account of the Joint Development Agreement (JDA) entered by a group of assessee. The assessee being an NRI has filed the…

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