No Reopening of Assessment on the basis of mere Audit Objection: SC

Larsen & Toubro Ltd. Vs State of Jharkhand and Ors. (Supreme Court of India) Point for consideration: The only point for consideration before this Court is whether on the information given by the audit team of the Auditor General, Bihar, the Assessing Authority was satisfied that reasonable ground exists to believe that a part of the turnover of the appellant-Company has escaped assessment within the meaning of Section 19 of the State Act based on which the assessing officer can re-open the assessment? Held by Supreme Court It is clear that the Assessing Officer was of the opinion that as ...