AO Cannot Reopen Assessment to Correct Oversight: Bombay HC

Emkay Global Financial Services Limited Vs ACIT (Bombay High Court)

Introduction: Emkay Global Financial Services Limited contested against the ACIT (Assistant Commissioner of Income Tax) in Bombay High Court regarding the reopening of assessment for the fiscal year 2015-16. The court examined the validity of the notice issued under Section 148 of the Income Tax Act, 1961, and the subsequent rejection of objections by the respondent.

Detailed Analysis: The petitioner, engaged in share

Please become a Premium member. If you are already a Premium member, login here to access the full content.