No Reassessment for Appealed Issues

Carborundum Universal Limited Vs ACIT (ITAT Chennai) Introduction: Carborundum Universal Limited vs ACIT (ITAT Chennai) is a landmark case that highlights a significant legal principle within the Indian Income Tax Act of 1961. This case revolves around the reopening of assessment and its viability when the issue is already the subject matter of appeal. The case gives insight into the application of the provisions of section 147 and section 14A of the Act, and it provides clarity on the limitations regarding the reopening of assessments. Analysis: 1. Background and Appeal Grounds: The case emer...