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Delhi HC Quashes Reassessment for Change of Opinion, No Disclosure Failure by Assessee
Case Law Details
- Case Name
- Allied Strips Limited Vs ACIT (Delhi High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2007-08
- Courts
- All High Courts, Delhi High Court
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Allied Strips Limited Vs ACIT (Delhi High Court)
The Delhi High Court has set aside a notice issued by the Assistant Commissioner of Income Tax (ACIT) seeking to re-open the tax assessment of Allied Strips Limited for the Assessment Year 2007-08. The court, in its judgment, ruled that the reassessment proceedings, initiated more than four years after the relevant assessment year, were invalid on two primary grounds: they were based on a mere change of opinion by the tax authorities, and the mandatory pre-condition of alleging the assessee’s failure to fully and truly disclose material fa...
