Reopening Quashed for Lack of Disclosure Failure

A.T. Invofin India Private Limited Vs DCIT (ITAT Delhi)

Reopening Beyond Four Years Without Alleging Assessee’s Failure Is Invalid: Delhi ITAT Quashes 148 Notice in Penny-Stock Case

Assessee, a NBFC managing investments & securities transactions, filed return declaring loss of Rs.2.98 crore. Assessment u/s 143(3) was completed on 25.03.2016. After lapse of four years, AO issued notice u/s 148 on 30.03.2021 based on Investigation Wing alleging fictitious losses in transactions of Stampede Capital Ltd. &

Please become a Premium member. If you are already a Premium member, login here to access the full content.