ITAT Mumbai Quashes Reopening Beyond 4 Years; Sub-Contract Disallowance Deleted

Hindustan Construction Company Limited Vs DCIT (ITAT Mumbai) ITAT Mumbai Quashes Reopening Beyond Four Years as Change of Opinion; Deletes ₹14.03 Crore Bogus Sub-Contract Disallowance The Mumbai Bench of the ITAT allowed the assessee’s appeal for AY 2012-13, holding that the reassessment initiated u/s 147 after four years was invalid and that the addition of ₹14.03 crore towards alleged bogus sub-contract expenses was unsustainable on merits. On jurisdiction, the Tribunal noted that the original assessment was completed u/s 143(3) and the reopening was based solely on Form 26AS entries o...