Arihant Developers Wins Bombay HC Case on IDS Tax Payment

Arihant Developers Vs PCIT (Bombay High Court) The Bombay High Court ruled in favor of Arihant Developers in a dispute concerning the Income Declaration Scheme (IDS) 2016. The petitioner challenged the reassessment order issued under Section 147 of the Income Tax Act, which claimed that they had failed to deposit the required taxes under the IDS. Arihant Developers provided evidence of tax payments made in 2016 and 2017, contradicting the Assessing Officer’s claim. The court found the department’s basis for reassessment to be erroneous, acknowledging that the petitioner had indeed ...