https://www.taxtmi.com/caselaws?id=781789 SC dismissed the revenue's Special Leave Petition challenging the HC order quashing reassessment proceedings u/s 147. The petition suffered from a delay of 198 days, which was not satisfactorily explained. On merits, SC found no ground to interfere with the HC's view that the share capital and premium received from a foreign investor had already been examined and accepted in assessments/reassessments u/s 143(3) in subsequent years. Since the nature and source of receipts were duly explained and not contradicted by the AO, reassessment was unjustified. en-us Mon, 10 Nov 2025 00:00:00 +0530 Wed, 19 Nov 2025 17:44:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781789 SC dismissed the revenue's Special Leave Petition challenging the HC order quashing reassessment proceedings u/s 147. The petition suffered from a delay of 198 days, which was not satisfactorily explained. On merits, SC found no ground to interfere with the HC's view that the share capital and premium received from a foreign investor had already been examined and accepted in assessments/reassessments u/s 143(3) in subsequent years. Since the nature and source of receipts were duly explained and not contradicted by the AO, reassessment was unjustified. Case-Laws Income Tax Mon, 10 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781789