2016 (12) TMI 878 - SUPREME COURT

Validity of reopening of assessment - HC [2015 (10) TMI 637 - KARNATAKA HIGH COURT] dismissed the writ petitions preferred by the appellant/assessee herein challenging the issuance of notice - Held that:- The aforesaid view taken is contrary to the law laid down by this Court in Calcutta Discount Limited Company vs. Incom Tax Officer, Companies District I, Calcutta & Anr.[1960 (11) TMI 8 - SUPREME Court]. We, thus, set aside the impugned judgments and remit the cases to the respective High Courts to decide the writ petitions on merits.

We may make it clear that this Court has not made any observations on the merits of the cases, i.e. the contentions which are raised by the appellant challenging the move of the Income Tax Authorities to re-open the assessment. Stay of re-assessment was granted