2019 (8) TMI 812 - SCH - Income Tax

Reopening of assessment - notice beyond four years - interest on fixed deposit undisclosed - HELD THAT - Since the tax effect involved in this matter is less than ₹ 2 crores, we see no reason to interfere in this matter. The special leave petition is dismissed, leaving all the questions of law open.

Summary

The Supreme Court dismissed the special leave petition as the tax effect was less than Rs. 2 crores. All questions of law remain open. Pending applications are disposed of.