2018 (7) TMI 879 - SCH - Income Tax

Validity of reopening of assessment - exceptional circumstances for petition - recourse to the statutory remedy available - Held that - We are not inclined to interfere with the impugned judgment and order passed by the High Court. However, the assessment proceedings including appellate proceedings shall be dealt with and decided strictly in accordance with law without being influenced by any of the observations made by the High Court. With these observations, the Special Leave Petition is dismissed.

Summary

The Supreme Court of India dismissed the Special Leave Petition and upheld the judgment and order passed by the High Court. The assessment and appellate proceedings should be conducted strictly in accordance with the law without being influenced by the High Court's observations.