https://www.taxtmi.com/caselaws?id=767625 The Bombay HC set aside a reopening notice issued to assess income of an alleged Association of Persons (AOP) formed between two companies. The court held that since the Income Tax Appellate Tribunal (ITAT) had determined that no AOP existed between the parties, the foundational premise for the reopening notice was invalid. Consequently, the reopening notice could not be sustained and was quashed, with the decision favoring the assessee. en-us Mon, 17 Mar 2025 00:00:00 +0530 Fri, 21 Mar 2025 08:25:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767625 The Bombay HC set aside a reopening notice issued to assess income of an alleged Association of Persons (AOP) formed between two companies. The court held that since the Income Tax Appellate Tribunal (ITAT) had determined that no AOP existed between the parties, the foundational premise for the reopening notice was invalid. Consequently, the reopening notice could not be sustained and was quashed, with the decision favoring the assessee. Case-Laws Income Tax Mon, 17 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767625