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Income Tax

SC Declines Reassessment Revival as Income & Transactions Were Fully Disclosed in ITR

Case Law Details

Case Name
ITO Vs R D Diamond (Supreme Court of India)
Date of Judgement/Order
Only available for paid members
Advertisement ITO Vs R D Diamond (Supreme Court of India) SC Upholds Quashing of Section 148 Notice Because Revenue Lacked ‘Reason to Believe’; SC Refuses Interference After Gujarat HC Holds Reopening Was Based on Third-Party Allegations; SC Backs Gujarat HC Decision Because Reassessment Became Fishing and Roving Inquiry; Section 148 Notice Quashed Because Transactions Already Reflected in Profit and Loss Account, SC Declines Appeal. The Supreme Court dismissed the Special Leave Petition filed by the Income Tax Department against the Gujarat High Court judgment that had qu...
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Author Info

CA Sandeep Kanoi
Qualification: CA in Job / Business
Company: Taxguru Consultancy
Location: Mumbai, Maharashtra
Articles Published: 18,551

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