The Bombay High Court has quashed the reassessment notices as there was no change in the opening and closing stock of the non-convertible debts.The Bench of Justice K. R. Shriram and Justice Neela Gokhale has observed that the reopening of assessment by the notice was merely on the basis of a change of opinion of the AO. The Bombay High …
The Kerala High Court has held that assessments can be reopened based on audit objections under a new reassessment regime.The bench of Justice Dinesh Kumar Singh has observed that the provisions have been drastically changed with effect from April 1, 2022, and the audit objection is one of the reasons for re-opening the assessment. The Kerala High Court has held …
The Delhi High Court on Thursday rejected the Congress’s plea challenging the initiation of tax reassessment proceedings against it for assessment years 2017 to 2021 by tax authorities. On March 22, the court had rejected the Congress’s plea challenging initiation of reassessment proceedings pertaining to assessment years 2014-15 to 2016-17. While rejecting the plea, the High Court said the Income …
