Reassessment under Section 147 requires:
ACBDT approval always (per relevant Section)
BMere suspicion
CTribunal order
DInformation suggesting income escaped
Answer & Solution
Correct answer: D. Information suggesting income escaped
1. Post-FA 2021: Section 147 requires INFORMATION suggesting income chargeable has escaped.
2. 'Information' defined under Explanation 1 to Section 148 — risk management, dissemination from another authority, etc.
3. Notice under 148 preceded by 148A inquiry/show-cause.
_Source: ICAI BoS CA Final Paper 7, Ch 15 "Assessment Procedure"_
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