SC Upholds Quashing of Section 148 Notices Issued to Foreign GE Group Entities

ACIT Vs GE Steam Power Systems (Supreme Court of India) The Supreme Court dismissed the Special Leave Petitions filed by the Revenue against the Delhi High Court judgment in matters relating to reassessment notices issued under Section 148 of the Income Tax Act to several foreign entities of the GE Group for Assessment Years 2013-14 to 2017-18. The Supreme Court stated that, after hearing the parties and examining the record, it found no good ground to interfere with the High Court’s orders. Accordingly, the SLPs were dismissed and pending applications were disposed of. The underlying procee...