Dismissing the appeal of the revenue the Court held; Assessment could not be reopened on basis of certain stand of assessee taken before Assessing Officer in income-tax proceedings. (AY. 1998-99)
CWT v. Harakchand Uttamchand Khinvasara (HUF) (2018) 97 taxmann.com 518/ 258 Taxman 151 (Bom.) (HC) Editorial: SLP of revenue is dismissed; CWT v. Harakchand Uttamchand Khinvasara (HUF) (2018) 258 Taxman 150 (SC)
S.17: Reassessment –Protective basis –Assets-Immovable property- Assessment could not be reopened on basis of certain stand of assessee taken before Assessing Officer in income-tax proceedings [S. 2(ea), 16(3)]