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Bombay HC: No Disclosure Failure, No Reopening After 4 Years
Case Law Details
- Case Name
- Stock Holding Corporation of India Ltd. Vs ACIT (Bombay High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Bombay High Court
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Stock Holding Corporation of India Ltd. Vs ACIT (Bombay High Court)
Reassessment Without Alleging Disclosure Failure: Bombay HC Denies Revenue a Second Bite at the Cherry
Facts-
The Petitioner, Stock Holding Corporation of India Ltd., challenged the reopening of its assessment for AY 2013-14 by a notice issued under Section 148 of the Income Tax Act, 1961, dated 31st March 2021.
A scrutiny assessment under Section 143(3) had already been carried out for AY 2013-14, with an order passed on 7th March 2016.
The impugned notice for reassessment was issued after a period of 4 year...
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