Bombay HC lays guidelines on reopening cases for AO for strict compliance

Tata Capital Financial Services Limited Vs ACIT (Bombay High Court) Bombay High court (HC) lays guidelines on reopening cases for assessing officer (AO) for strict compliance Bombay high court coming down heavily on income tax department in section 148 reopening cases where revenue is held not transparent with tax payers in sharing of requested information basis of reopening action and detailed directions to CBDT to lay down immediate guidelines on lines : “8. In the circumstances, the Revenue is directed to adhere to the following: (a) While communicating the reasons for re-opening the ...