Re-Assessment at the behest of Audit Party is Invalid: Bombay High Court [Read Order]

Re-Assessment - Audit Party - Invalid - Bombay High Court - Taxscan

A division bench of the Bombay High Court has held that the re-assessment under section 147 of the Income Tax Act, 1961 is bad in law since the same was at the behest of audit party. Petitioner is a company engaged in the business, inter alia, of air conditioning and refrigeration etc. the petitioner received…

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