“Not even a line of reason which may justify information of belief”: Delhi HC quashes Reopening of Assessment [Read Order]

The court observed that the power to reopen an assessment under Section 147 is potent in nature and must not be exercised lightly
By Saagarika Gopinath - On September 10, 2024 5:53 pm - 2 mins read
Delhi High Court - reopening of assessment - Sections 147 Income Tax Act - Sections 148 Income Tax Act - taxscan

In a recent ruling, the Delhi High Court allowed the writ petition, and the court was of the view that the reopening of the assessment did not meet the legal requirements under Sections 147 and 148 of the Income Tax Act, 1961. In this case, the petitioner, Well Trans Logistics India Pvt. Ltd., is involved…

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