Is the assessing officer empowered to assess an income which is chargeable to tax and has escaped assessment, in a case which is pending before the appellate tribunal ?
Please help! Thanks.
1 Replies
kumarsatish022
(Professional)
(165 Points)
Replied 18 March 2011
As per amendment in FA2008,AO cannot institute proceedings if the same is pending before ITAT, but for same assesee, same AY, but FOR DIFFERENT SOURCE OF INCOME, such proceedings is valid.
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