Section 148 notice was void ab initio if no prima facie satisfaction recorded

AEP Investments (Mauritius) Ltd. Vs ACIT (ITAT Delhi)

Introduction: The recent case of AEP Investments (Mauritius) Ltd. vs ACIT witnessed a significant development as the Delhi ITAT quashed the reassessment order for A.Y. 2017-18. The decision highlights the importance of prima facie evidence in income escapement cases.

Detailed Analysis: The appeal filed by AEP Investments (Mauritius) Ltd. (AIML) against the order of the Assessing Officer for A.Y. 2017-18

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