Supreme Court Upholds Reassessment Proceedings Under Income Tax Act and scope of Reason to Believe
The central issue revolved around the validity of notices issued under Sections 147 and 148 of the Income Tax Act for the assessment years 2008 to 2009 and 2009 to 2010. The judgment clarifies the boundaries of the powers held by tax authorities when initiating reassessment proceedings. The factual matrix involves the appellants who entered […]