2023 (9) TMI 1043 - SCH - Income Tax

Validity of reopening of assessment - reopening as initiated beyond 4 years - Reasons to believe - As decided by HC 2022 (12) TMI 404 - KARNATAKA HIGH COURT notice u/s 148 is to be issued after expiry of four years or before expiry of six years, the assessee should have failed to disclose the material facts and on consideration of the material on record has held that AO has not even stated or alleged that there was failure on the part of assessee to disclose fully and truly all the material facts necessary for the said assessment years - HELD THAT - Delay condoned. Application seeking exemption from filing certified copy of the impugned order is allowed. This Court is of the opinion that the impugned order does not call for interference. The Special Leave Petition is, accordingly, dismissed.

Summary

The Supreme Court in the case cited as 2023 (9) TMI 1043 - SC Order, dismissed the Special Leave Petition after condoning the delay and allowing exemption from filing a certified copy of the impugned order. The Court held that the impugned order does not require any interference.