Delhi HC Quashes Income Tax Notice over AY Error in Depositing Tax

Anita Arora Vs ACIT (Delhi High Court) In a noteworthy judgment, the Delhi High Court quashed the Income Tax notice issued against petitioner Anita Arora in the case Anita Arora Vs ACIT. The court concluded that the error in depositing tax was not relevant to the assessment year under scrutiny. The issue centered around the Assessment Year (AY) 2016-17. The petitioner had received a considerable sum from the sale of a property and also made an investment in bonds. However, the tax for this transaction was mistakenly deposited for AY 2016-17 instead of AY 2015-16. The court scrutinized the circ...