Madras HC Quashes Reassessment as Assessee Fully Disclosed Material Facts

Anantara Solutions Private Limited Vs Additional / Joint / Deputy / ACIT (Madras High Court) The Madras High Court considered a writ petition challenging notices issued under Sections 148 and 142(1) of the Income Tax Act for reopening an assessment relating to the assessment year 2015–16. The original assessment order had been issued on 29 December 2017. Subsequently, the Income Tax Department issued a notice under Section 148 on 29 March 2021 seeking to reopen the assessment. The petitioner responded on 24 June 2021 by enclosing a copy of the previously filed return of income and requested ...