Vedanta Ltd. v. ADIT (IT) (2021) 439 ITR 719/ 282 Taxman 504 (Mad.)(HC)

S. 147 : Reassessment-Foreign currency-Interest-Professional fees-Consulting fee etc-Reassessment notice was held to be justified. [S. 37(1), 148, Art. 226]

Dismissing the petition the Court held that reasons for reopening had got sum and substance and said differences or inferences had to be answered and explained by assessee by participating in process of reassessment and assessee should furnish further details or documents or materials so as to establish expenditure. Reopening notice was held to be justified. (AY. 2002-03) (SJ)