The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has quashed reassessment proceedings for Assessment Year (AY) 2016–17 and deleted substantial additions made under Section 68 of the Income Tax Act for both AY 2016–17 and AY 2017–18 and held that the reassessment invalid if no addition made on recorded reasons. The bench of…
Reassessment Invalid If No Addition Made on Recorded Reasons’; S. 68 Can’t Apply to Genuine Share Sale Proceeds: ITAT
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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