Reopening of assessment held invalid due to lack of factual ...

Income from commodity transactions disclosed; reopening of assessment invalid. Lack of factual basis & non-application of mind by Revenue.

Case Laws Income Tax

July 23, 2024

Reopening of assessment held invalid due to lack of factual basis and non-application of mind by Revenue. Assessee had already disclosed relevant income from commodity transactions in return and supporting documents. Notice u/s 148 and order rejecting objections quashed, being legally unsustainable.

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Reopening of assessment held invalid due to lack of factual ...

Income from commodity transactions disclosed; reopening of assessment invalid. Lack of factual basis & non-application of mind by Revenue.

Case Laws Income Tax

July 23, 2024

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