Supreme Court Dismisses Revenue's Appeal Against Quashing of Reassessment Notice Under Income Tax Act Due to Lack of Tangible Material and Improper Reliance on Income Declaration Scheme. Reassessment Initiated Based on Accommodation Entries and Declaration Under Section 183 of Finance Act, 2016 Held Invalid as AO Failed to Establish 'Reasons to Believe' Income Escaped Assessment for AY 2010-11.
28 Mar 2022The dispute arose from a reassessment notice issued by the Commissioner of Income Tax under Sections 147/148 of the Income Tax Act, 1961, for the asse...




