The Supreme Court on Friday ruled in favour of media channel NDTV in a Tax Round Tripping case.
"The Supreme Court has refused to allow the Revenue Department to reopen an assessment that was decided years ago," the company wrote on its website.
According to an update by Bar and Bench, the order was passed by a bench that consisted of Justice L Nageswara Rao and Justice Deepak Gupta.
"We accordingly allow the appeal by holding that the notice issued to the assessee shows sufficient reasons to believe on the part of the assessing officer to reopen the assessment but since the revenue has failed to show non-disclosure of facts the notice having been issued after a period of 4 years is required to be quashed," read the concluding statements issued by the Court. This was shared on Twitter by Bar and Bench.
"The Supreme Court has proved that the rule of law prevails above all else," NDTV wrote on their news website.
