SC Dismisses Tax Department Appeal Due to Delay, Upholds Quashing of Reassessment Notice

DCIT Vs RRPR Holdings Private Limited (Supreme Court of India) The matter concerns reassessment proceedings initiated for Assessment Year 2010–11 under Section 148 of the Income-tax Act and subsequent judicial scrutiny by the Delhi High Court and the Supreme Court. The petitioner challenged the reassessment notice dated 23 March 2015, the order rejecting objections, and the continuation of reassessment proceedings, along with a request to restrain further inquiries. The reassessment was based on allegations relating to a transaction involving acquisition of 7.5% shareholding in New Delhi Tel...