Mere opinion of the Audit Party cannot form the basis for the Assessing Officer to reopen the closed assessment

Cadila Healthcare Ltd Vs. ACIT (Gujarat High Court)- Assessing Officer was of the opinion that no part of the income of the assessee has escaped assessment. In fact, after the audit party brought the relevant aspects to the notice of the AO, she held correspondence with the assessee. Taking into account the assessee’s explanation regarding non-requirement of TDS collection and ultimately accepted the explanation concluding that in view of the Board’s circular, tax was not required to be deducted at source. No income had therefore escaped assessment. Despite suc

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