Supreme Court · 2024 INSC 53 · Decided 23 January 2024
M/S Mangalam Publications, Kottayam v. Commissioner of Income Tax, Kottayam
- Court
- Supreme Court of India
- Citation
- 2024 INSC 53 · [2024] 1 S.C.R. 642
- Case number
- CIVIL APPEAL No. 8580/2011
- Decided
- 23 January 2024
- Bench
- B.V. NAGARATHNA, UJJAL BHUYAN (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 147, 148, 139
Headnote
Reopening of a concluded assessment-reassessment u/s. 147 of the Income Tax Act, 1961 following issuance of notice u/s. 148 of the Act, legally sustainable or bad in law. Income Tax Act, 1961 - ss. 147 and 148 - Reopening of u/s. 147 following issuance of notice u/s. 148 - Sustainability: Held: On the basis of the balance sheet submitted by the assessee before the Bank for obtaining credit, the assessing officer upon a comparison of the same with a subsequent balance sheet filed by the assessee
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