2023 (5) TMI 1142 - SCH - Income Tax

Reopening of assessment u/s 147 - Reason to believe - genuineness of claim of assessee company about compensation payable - As per HC it is a clear case of change of opinion, Change of opinion does not constitute justification and/or reasons to believe that income chargeable to tax has escaped assessment as in survey operation u/s 133-A and in the survey report it was specifically commented to examine in detail genuineness of claim of assessee company about compensation payable - HELD THAT - We are not inclined to interfere with the impugned judgment and order of the High Court. The special leave petition is dismissed on the ground of delay.

Summary

The Supreme Court of India dismissed the special leave petition due to delay. The impugned judgment and order of the High Court were not interfered with. The delay was condoned.