Suspicion and Conjecture cannot form a basis for triggering Reassessment Proceedings: Delhi HC quashes Impugned Notice issued u/s 148 [Read Order]

Conjecture - Reassessment - Proceedings - quashes - Impugned - Notice issued - Reassessment Proceedings - taxscan

The Delhi High Court has quashed the impugned notice under Section 148 of the Income Tax Act, 1961, and held that the suspicion and conjecture cannot form a basis for triggering the reassessment proceedings. The petitioner filed its Return on Income (ROI) which was processed under Section 143(1) of the Income Tax Act. Six years…

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