SC Upholds Quashing of Reopening as Based on Overturned Earlier Disallowance

DCIT Vs Venus Infrastructure And Developers Pvt Ltd (Supreme Court of India) The matter arises from a challenge to a notice issued under Section 148 of the Income Tax Act, 1961 for reopening the assessment for Assessment Year 2016–17. The petitioner, a real estate development company, had claimed deduction under Section 80IB(10) for its housing project “Venus Parkland” in its return filed for the relevant year. The return was processed under Section 143(1), and no scrutiny assessment was undertaken. Read HC Judgment in this case: Reopening Invalid as Based on Issue Already Decided in Ear...