Section 249(4)(b) does not Apply when there is No question of Advance Tax in Income Tax Reassessment Proceedings: ITAT [Read Order]

Section 249(4) of the Income Tax Act will not apply as there was no question of paying advance tax in reassessment proceedings
By Aiswarya Krishnadas - On May 30, 2024 8:05 pm - 2 mins read
Income tax - Reassessment Proceedings - Income Tax Reassessment - taxscan

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that Section 249(4)(b) of Income Tax Act, 1961 does not apply when there is no question of advance tax payment in the income tax reassessment proceedings. The assessee M/s. Nine Globe Industries Pvt. Ltd filed its Return of Income (RoI) on 29.09.2012 for…

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