Reopening of assessment after expiry of four years is invalid, if assessee has disclosed all the material facts truly and fully — as held by DelHC in Sudhir Gensets Limited v ITO — In favour of: The Assessee ; Writ Petition (Civil) No. 7789/2010
Decided on: 31 May 2011
Decided on: 31 May 2011
Once AO has duly examined and verified the issue of loss arising out of fluctuation in foreign exchange in original assessment, reassessment cannot be initiated on the same ground as same amounts to change of opinion — as held by MumTrib in Hidelbergcement India Ltd v ACIT — In favour of: The Assessee ; ITA No. 2336/Mum/2010 : Assessment Year: 2004–2005
Decided on: 13 May 2011
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