SC Dismisses Reopening Beyond Four Years Due to Change of Opinion

Advertisement ACIT Vs Ceat Limited (Supreme Court of India) The Supreme Court of India, while dismissing the Special Leave Petition filed by the Revenue, affirmed the judgment of the Bombay High Court which had quashed a reassessment notice issued under Section 148 of the Income Tax Act, 1961, for Assessment Year 2012–13. Read HC Judgment: Bombay HC Quashed Reopening After Four Years Due to Change of Opinion Before the Supreme Court, it was undisputed that the reassessment notice had been issued beyond four years from the end of the relevant assessment year. Consequently, the statutory c...