https://www.taxtmi.com/caselaws?id=751571 The Bombay HC quashed a reopening notice issued by the Revenue for assessment years 2011-2012, 2013-2014, and 2014-2015. The Revenue had reopened assessments on three issues to safeguard its interests as appeals were pending before ITAT and assessments were becoming time-barred. However, ITAT subsequently ruled against the Revenue, causing the entire basis for reopening to collapse. The HC held that despite the Revenue's appeal against ITAT orders, without a stay, the ITAT decision remained binding on subordinate authorities per judicial discipline principles established in Union of India v. Kamlakshi Finance Corporation Ltd. The court quashed both the reopening notice and consequent objection orders. en-us Fri, 12 Apr 2024 00:00:00 +0530 Thu, 18 Apr 2024 18:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751571 The Bombay HC quashed a reopening notice issued by the Revenue for assessment years 2011-2012, 2013-2014, and 2014-2015. The Revenue had reopened assessments on three issues to safeguard its interests as appeals were pending before ITAT and assessments were becoming time-barred. However, ITAT subsequently ruled against the Revenue, causing the entire basis for reopening to collapse. The HC held that despite the Revenue's appeal against ITAT orders, without a stay, the ITAT decision remained binding on subordinate authorities per judicial discipline principles established in Union of India v. Kamlakshi Finance Corporation Ltd. The court quashed both the reopening notice and consequent objection orders. Case-Laws Income Tax Fri, 12 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751571