ITAT invalidates Reassessment under Income Tax Act as Alleged Transaction already shown on Return Filed: Calcutta HC dismisses Appeal [Read Order]
The court upheld the Tribunal's view that the reopening of proceedings was flawed, as the alleged transaction had already been disclosed in the books and in the Income Tax Return filed under Section 139(1)
In a recent case, the Calcutta High Court dismissed the appeal on finding that the Income Tax Appellate Tribunal ( ITAT ) invalidated the reassessment order passed under Income Tax Act, 1961 as alleged transaction was already shown on return filed. The revenue filed appeal under Section 260A of the Income Tax Act, 1961 (the Act)…
Your free access to Taxscan has Expired
To read the article, get a premium account.
Taxscan Premium
Why should you subscribe?
Enjoy our website without interruptions from advertisements
Receive Daily newsletters
Receive realtime Telegram/Whatsapp news updates
Download original Judgements / Order / Notifications / Circulars, etc
