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HomeDirect TaxCan Income Tax Dept. Reopen Assessment Through Rectification After Granting Immunity U/S...

Can Income Tax Dept. Reopen Assessment Through Rectification After Granting Immunity U/S 270AA? ITAT Says No

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The Income Tax Act, the Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that once immunity is granted under Section 270AA and the assessment attains finality, the Assessing Officer cannot subsequently alter the tax consequences of that assessment through rectification proceedings under Section 154.  The bench of Amit Shukla (Judicial Member) and…

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Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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