whether section 147 of the income tax act can be invoked on the basis of audit party objection regarding allowance of expenditure.
3 Replies
CA MAYANK WADHERA
(CA CS CMA(I))
(789 Points)
Replied 05 January 2012
No SECTION 147 CAN NOT BE INVOKED BECAUSE AUDIT PARTY OBJECTION IS NOT REGARDED AS A SUBSTANTIAL REASON TO BELIEF
CA rahul
(BCOM(H) ACA)
(725 Points)
Replied 05 January 2012
but i read in vg sir module reason to believe inculde audit party obection
CA SANDESH MAHIPAL
(Practicing in GST and MSME )
(1985 Points)
Replied 05 January 2012
ON THE BASIS OF AUDIT PARTY OBJECTION AO CAN INVOKE 147 BECAUSE THIS IS A PART OF REASONS TO BELIEVE TO INVOKE 147
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