Reopening of Assessment after 4 Year with Approval of Joint Commissioner is Invalid: ITAT [Read Order]

Reopening of Assessment - Approval of Joint Commissioner is Invalid - ITAT -TAXSCAN

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the reopening of assessment after 4 years with the approval of joint commissioner was invalid. Assessee, Maiden Marketing India Private Limited filed return of income declaring loss. The assessment under Section 143(3) of the Income Tax Act was finalised by determining the total…

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