Assessment cannot be reopened (within 4 years) for oversight of a statutory provision by AO

PCIT Vs Inarco Limited (Bombay High Court)

The grievance of the Revenue before us is that the Assessing Officer omitted to consider Section 50C of the Act while passing the order dated 26.12.2007 under Section 143(3) of the Act. Thus, it is submitted that the re­opening notice dated 11.3.2010 is valid in law.

In this case it is not the case

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