Re-opening of Assessment not valid in absence of any justifiable doubtful circumstances – HC

Brief of the Case

High court held In the case of The CIT vs. M/s Kerala Kaumudi (P) Ltd that the fundamental basis on which the assessment was re-opened itself is untenable. We are fully agree with the contention of the Tribunal that in the absence of any justifiable vitiating circumstances, the AO cannot decline to accept the bill produced by Assessee and accordingly cannot deny the investment allowance and depreciation allowed in the last assessment year by re-opening of assessment.

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