Madras HC Quashes Reopening Assessment order u/s 148 based on grossly erroneous factual foundation is untenable-in-law

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Madras HC Quashes Reopening Assessment order u/s 148 based on grossly erroneous factual foundation is untenable-in-law [Read Order]
The petitioner argued that the reassessment notices were based on a fundamental factual error and also raised issues regarding the timeliness and authority of the reassessment approvals
By Aiswarya Krishnadas – On September 14, 2024 2:33 pm – 2 mins read

In a recent ruling, the Madras High Court quashed the reopening of the assessment order under Section 148, stating that it was based on a grossly erroneous factual foundation, rendering it untenable in law. The case involved the petitioner, Fives India Engineering & Projects who had engaged in transactions with Fives France under an Assistance…

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Topics
Authority for Advance RulingJustice Senthil Kumar RamamoorthyMadras High Court

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