The High Court of Madras held that Deputy Commissioner of Income Tax (DCIT) cannot reopen assessment after 4 years to deny deduction unless any income chargeable to tax escaped assessment. The petitioner, M/s. International Flavours and Fragrances India Private Limited, is engaged in the manufacture of flavor essences, mixed seasoning powders, and formulated perfumery compounds, […]
from Taxscan | Simplifying Tax Laws https://ift.tt/2M6aj47
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