Change of Opinion does not Constitute Justification to Believe Escapement of Income: Bombay HC quashes Assessment Order against Knight Riders Sports [Read Order]

Change of Opinion - Constitute Justification - Believe Escapement - Income-Bombay HC - Assessment Order - Knight Riders Sports-TAXSCAN

The Bombay High Court quashed assessment order against Knight Riders Sports Pvt. Ltd, the petitioner and noted that the change of opinion does not constitute justification to believe escapement of income. The petitioner is impugning a notice received under Section 148A(b) of the Income Tax Act, 1961, the order passed under Section 148A(d) of the…

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