Case Law Details
Movish Realtech Private Limited Vs DCIT (Delhi High Court)
Introduction: In a landmark judgment, the Delhi High Court addressed the issue of reassessment proceedings in the case of Movish Realtech Private Limited vs. DCIT. The crux of the matter revolved around the validity of reassessment based merely on the statement of an accommodation entry provider.
Background: The reassessment proceedings against Movish Realtech were initiated subsequent to a search conducted at AFL Ltd. The revenue department alleged that AFL Ltd. provided a bogus accommodation entry to the assessee. This claim was further confirmed by the accommodation entry provider, ‘R’. However, the key point of contention was that the entire foundation for these proceedings was solely based on ‘R’s statement, which lacked clarity.
Key Points of the Judgment:
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