SC Dismisses Revenue Plea as Income Tax Reassessment Was Attempted Third Time

ITO Vs United Associates (Supreme Court of India) The matter relates to Assessment Year 2016–17 and concerns repeated attempts by the tax authorities to reopen an assessment that had already attained finality. The assessee had filed its return declaring an income of ₹19.75 lakh, which was scrutinised and accepted without any additions by an order dated 27 December 2018 passed under Section 143(3) read with Section 144B of the Income Tax Act, 1961. Read Delhi HC Judgment: Reassessment Quashed as Completed Assessment Had Attained Finality: Delhi HC Subsequently, the Revenue initiated reass...