No Failure to Disclose Material Facts: Bombay HC quashes Income Tax Reassessment Proceedings [Read Order]
Original assessment was subjected to scrutiny. However, the reassessment notice was issued after the expiry of four years
By Manu Sharma - On September 5, 2024 6:49 pm - 2 mins read
The Bombay High Court quashed the reassessment proceedings initiated against Aashish Niranjan Shah for the assessment year ( AY ) 2013-14 as there was no failure to disclose material facts. The reassessment was initiated based on a notice issued under Section 148 of the Income-tax Act, 1961, dated 31st March 2021, which alleged that the…
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