Reassessment alleging delayed filing of Form 10 without opinion of income escaped assessment untenable: Delhi HC

Associated Chambers of Commerce And Industry of India Vs Deputy Commissioner of Income Tax & Ors. (Delhi High Court) Delhi High Court held that action of reassessment merely on the allegation of delayed digital filing of Form 10 without based on the formation of an opinion that income chargeable to tax has escaped assessment. Facts- The writ petitioner is a company registered under Section 8 of the Companies Act, 2013 and additionally holds a valid registration referable to Section 12-AA of the Income Tax Act, 1961. It impugns the reassessment action initiated by the respondents pertaining...