The Delhi High Court has allowed the Writ Petitions filed by RRPRH, quashing the reassessment orders for Assessment Years 2009-10 and 2010-11, along with the consequential provisional attachment order
RRPR Holding Private Limited received two reassessment notices from the Deputy Commissioner of Income Tax under Section 148 of the Income Tax Act, 1961. The first notice was issued on August 8, 2014, for the Assessment Year 2009-10, while the second was issued on March 23, 2015, for the Assessment Year 2010-11
RRPRH challenged the reassessment notices before the Delhi High Court.
The Delhi High Court granted an interim stay on February 26, 2016 on the reassessment proceedings for both the Assessment Years.
The interim stay granted was made absolute by Delhi High Court on August 17, 2017.
However, on October 25, 2017, the DCIT passed a Provisional Attachment order under Section 281B of the Act, attaching 1,88,13,928 shares of the Company held by RRPRH. Thus, RRPRH filed another Writ Petition before the Delhi High Court and sought quashing of the attachment order.
