Reassessment in absence of prima facie finding is erroneous: Madras HC [Read Judgment]

The Madras High Court held that the reassessment in absence of prima facie finding is erroneous. The assessee, M/s.Accel Limited filed its return of income disclosing a loss and the return was processed under Section 143(1) of the Act and was accepted. Subsequently, during the scrutiny proceedings, it was observed that the assessee had received […]
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