Case Law Details
Case Name : Bhagwati Polyfill Pvt. Ltd. Vs ACIT (Gujarat High Court)
Related Assessment Year :
Courts :
All High Courts Gujarat High Court
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Bhagwati Polyfill Pvt. Ltd. Vs ACIT (Gujarat High Court)
In the case of Bhagwati Polyfill Pvt. Ltd. vs. ACIT, the Gujarat High Court made a significant decision regarding the validity of reopening assessments based on reasons lacking a direct connection between the taxpayer and the disputed transaction. The court’s judgment highlights the importance of tangible evidence and a valid reason to believe that income has escaped assessment.
Background of the Case: Bhagwat
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