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Mere reopening of the assessment won’t provide a cause of action for filing of writ petitions: HC

October 11, 2018[2018] 98 200 (Madras)/[2018] 259 Taxman 266 (Madras)

IT: Reopening of assessment on basis of information on record with revenue that assessee had received share capital which according to CBI were revenue receipts camouflaged as capital receipts, was justified

IT: Reasons to be recorded by Assessing Officer for taking decision to reopen escaped assessment does not mean that such reasons are to be communicated along with notice itself; very notice will not provide a cause of action for assessee to file writ petitions

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