Calcutta HC Grants Stay against Initiation of Reassessment Proceedings Beyond 6 years in Relation to Fraudulent Reversal of Stocks in Stock Exchange [Read Order]

Calcutta High Court - Reassessment proceedings - stay against Initiation of Reassessment Proceedings - Beyond 6 years - Fraudulent Reversal of Stocks in Stock Exchange - Stock exchange - Taxscan

A Single Bench of Justice Krishna Rao of Calcutta High Court granted stay to the reassessment proceedings against the petitioner beyond 6 years with regards to the assessment linked to the fraudulent reversal of the stocks in stock exchange. The bench also directed to file an affidavit-in-opposition within  8 weeks. RPC Commercial LLP, the petitioner…

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