Reassessment Proceedings under Income Tax Act without Application of Mind: Delhi HC upholds order of ITAT [Read Order]
The court observed that the PCIT has failed to satisfactorily record its concurrence. By no prudent stretch of the imagination, the expression “Yes” could be considered to be a valid approval
The Delhi High Court upheld the order of the Income Tax Appellate Tribunal [ “ITAT” ] since the reassessment proceedings under the Income Tax Act, 1961 were without application of mind. Pioneer Town Planners Pvt Ltd, the respondent-assessee filed its income tax return [ “ITR” ] which was processed under Section 143(1) of the Income…
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