Tag Archives: Audit Objection

Assessment Reopening on basis of Audit Objection not valid

By | February 10, 2016

Held Only on account of audit objection a well settled practice is sought to be disturbed. The Division Bench of this Court in Purity Techtextile (P.) Ltd. v. Asstt. CIT [2010] 325 ITR 459  (Bom.) has found that such reopening where the Assessment Officer relied exclusively on audit objection in absence of tangible material cannot… Read More »