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Time barred assessment cannot be reopened for non satisfaction of conditions for reopening
Case Law Details
- Case Name
- Betts India Pvt. Ltd Vs The Deputy commissioner of Income Tax (Bombay High Court at Goa)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Bombay High Court
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Shivali Bardoliya
Brief of the Case:
The hon’ble High Court of Bombay and Goa held in the case of Betts India Pvt. Ltd. V/s DCIT that when all the material facts necessary for assessment has been truly and full disclosed, the assessment can not be re opened after the expiry of time limit on the basis of inference drawn from reasons not recorded by the Assessing Officer.
Brief Facts of the Case:
The assessee is engaged in the manufacture and sale of plastic and laminated collapsible tubes for dental and health care products. For the AY 2004-05, the assessee re-evaluated the estimated usefu...
Similar judgements are now aplenty, as Revenue has been wasting its as well as Assessees’ precious time / energy in such untenable reopening of assessments throughout the country