Delhi High Court quashes Income Tax order for Assessment Year 2016-17
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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Delhi High Court allowed Kairosoft AI's writ petition and quashed the Income Tax order dated 30 August 2024 passed under Section 148A(d) and the consequential notice under Section 148 of the Income Tax Act 1961 for Assessment Year 2016-17, on the ground that proceedings were barred by limitation. The court relied on a prior Delhi HC ruling, and the tax department did not contest the position. The writ petition stands disposed of.
Positive for the company. Tax reassessment proceedings for AY 2016-17 are quashed, removing a potential tax liability and providing relief.