Special leave petition dismissed; reopening of completed assessment quashed for relying on incorrect fact treating s.143(3) as s.143(1) SC dismissed the special leave petition, upholding the HC's decision quashing the reopening of the completed assessment of the petitioner bank. The HC ...
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Special leave petition dismissed; reopening of completed assessment quashed for relying on incorrect fact treating s.143(3) as s.143(1)
SC dismissed the special leave petition, upholding the HC's decision quashing the reopening of the completed assessment of the petitioner bank. The HC found the reopening rested on grossly incorrect facts-mistakenly treating the assessment as completed under s.143(1) when it had been completed under s.143(3)-and thus amounted to a change of opinion by the AO. The SC declined to interfere with the HC's order.
The Court affirmed the High Court's decision, stating it was "not inclined to interfere with the impugned judgment and order of the High Court"; consequently the "special leave petition is dismissed." The ruling reflects a deferential exercise of appellate discretion, declining to disturb the lower court's findings. As a procedural consequence, all pending applications before the Court are directed to "stand disposed of." The operative outcome is therefore affirmation of the High Court's order and final dismissal of the petition, leaving the lower court's judgment intact.
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