Case Law Details
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 presented several grounds challenging the validity of the reassessment. The key points of contention included:
1. Lack of jurisdiction and validity of the reassessment order.
2. Invalid directions issued by the Ld. Dispute Resolution Panel.
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