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Reassessment action based on wholly erroneous view is liable to be quashed: Delhi HC
Case Law Details
- Case Name
- Vedanta 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
- 2012-13
- Courts
- All High Courts, Delhi High Court
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Vedanta Limited Vs ACIT (Delhi High Court)
Delhi High Court held that entire assumption of jurisdiction u/s. 148 is based on a wholly erroneous view that payment made for acquiring mining rights is to be treated as income. Since, such payment is not income, reassessment action based on erroneous view quashed.
Facts- The challenge is to the reassessment action initiated pursuant to a notice dated 30 March 2019 and pertains to Assessment Year 2012-13.
The respondents take note of the Return of Income which was filed by the petitioner for A.Y. 2012-13 on 27 November 2012. The Assessing Officer ap...
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