Assistant/deputy Commissioner of Income-tax Vs Reliance Projects & Property Management Services Ltd. (Supreme Court of India)
In Assistant/Deputy Commissioner of Income-tax vs Reliance Projects & Property Management Services Ltd., the Supreme Court of India upheld the decision of the Bombay High Court which had quashed reassessment notices and consequential orders for Assessment Year 2016–17. The High Court had recorded that the issue involved in the case was covered by its earlier judgments in Siemens Financial Services Private Limited vs Deputy Commissioner of Income Tax and Alok Industries Ltd vs Assistant Commissioner of Income Tax, and both parties had agreed to such position. On that basis, the High Court set aside all impugned notices, assessment orders, and consequential actions without examining the merits further.
Read HC Judgment in this case: Bombay HC Quashes Notices Since Issue Already Decided in Prior Cases
The revenue challenged this decision before the Supreme Court. However, after hearing the parties and examining the record, the Supreme Court found no reason to interfere with the High Court’s order. Consequently, the Special Leave Petition was dismissed. The effect of this dismissal is that the quashing of reassessment proceedings by the High Court stands affirmed, with no further relief granted to the revenue.
