Reopening of tax assessment justified; taxpayer may contest Rs.98.46 lakh taxable sum and invoke Section 14A

SC held that reopening of assessment was justified on the facts. On merits, the taxpayer may contest the offered taxable sum of Rs.98.46 lakhs and advance arguments under section 14A of the Income Tax Act. Subject to those rights to challenge, the special leave petition was dismissed.

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The Supreme Court of India in 2011 (7) TMI 275 - SC upheld the re-opening of assessment in a case. The assessee can raise contentions on the amount offered for tax and Section 14A of the Income Tax Act, 1961. The special leave petition was dismissed.

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