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Section 148 Reassessment Set Aside as Based on Change of Opinion: Madras HC
Case Law Details
- Case Name
- Schwing Stetter (India) Private Limited Vs Additional/Joint/Deputy/ACIT/ITO (Madras High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Madras High Court
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Schwing Stetter (India) Private Limited Vs Additional/Joint/Deputy/ACIT/ITO (Madras High Court)
For Assessment Year 2015-16, the petitioner filed its return of income on 30.11.2015 along with the financial statements for Financial Year 2014-15. During the original assessment proceedings, the Assessing Officer issued a notice under Section 142(1) of the Income-tax Act, 1961 calling for, among other things, details of large expenses claimed in the profit and loss account. The petitioner replied on 14.09.2018 and specifically furnished details relating to the net loss on foreign ...
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