Turnover Discrepancy of Rs.86 Crore! Delhi HC quashes Income Tax Addition Ultra Vires Grounds for Reopening Assessment by AO [Read Order]

The Decision was rendered by the Delhi High Court while adjudicating an Income Tax Appeal filed by the Revenue against an Order of the ITAT

By Avinash Kurungot - On November 12, 2024 3:49 pm - 2 mins read

Turnover Discrepancy - Delhi HC - Income Tax - Ultra Vires - Reopening Assessment - AO taxscan

The Delhi High Court quashed the addition of supplementary grounds beyond the ones raised during the initiation of reassessment proceedings while adjudging a matter regarding massive discrepancy of Rs.86 Crore in the assessed turnover of an Assessee. The present Income Tax Appeal, instituted by the Revenue under Section 260A of the Income Tax Act, 1961…

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