Tag Archives: Audit Objection

No reassessment on basis of objections raised by audit party : Bombay HC : Dated 24.04.2018

By | May 23, 2018

 The reasons recorded in support of the impugned notice was merely on the basis of borrowed satisfaction of the audit party. This also makes the impugned notice bad. HIGH COURT OF BOMBAY Commissioner of Income-tax-14, Mumbai v. Shankardas B. Pahajani M.S. SANKLECHA AND SANDEEP K. SHINDE, JJ. IT APPEAL NO. 1432 OF 2007 APRIL  24, 2018 P.C.… Read More »

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 »