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SC Quashes AY 15-16 Income Tax Reassessment Notices Post 1st April 2021
Case Law Details
- Case Name
- Deepak Steel And Power Limited Vs Central Board of Direct Taxes & Ors. (Supreme Court of India)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- Supreme Court of India
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Deepak Steel And Power Limited Vs Central Board of Direct Taxes & Ors. (Supreme Court of India)
Supreme Court of India has nullified income tax reassessment notices issued to Deepak Steel And Power Limited for Assessment Year (AY) 2015-16. The notices, dated June 25, 2021, were challenged after the Orissa High Court declined to entertain writ petitions against them, suggesting the petitioner raise grounds at a later stage, referencing previous High Court orders.
The Supreme Court, hearing the company’s appeals against the High Court’s decision, noted a crucial concession made b...
