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Initiation of reassessment unjustified as nature and source of receipts duly explained: Delhi HC
Case Law Details
- Case Name
- Experion Hospitality Pvt Ltd. Vs ITO (Delhi High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2008-09
- Courts
- All High Courts, Delhi High Court
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Experion Hospitality Pvt Ltd. Vs ITO (Delhi High Court)
Delhi High Court held that once the nature and source of receipts have been satisfactorily explained/proved and AO has not contradicted the explanation/information given by the assessee, there lies no cause for initiating the reassessment action. Accordingly, reassessment proceedings u/s. 148 quashed.
Facts- The present Writ Petitions under Article 226/227 of the Constitution of India are directed against separate notices issued by the respondents under Section 148 of the Income Tax Act, 1961 for the Assessment Years 2008...
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