AO can’t withhold refund merely because assessee declared huge income in immediately preceding year; SLP dismissed

INCOME TAX : SLP dismissed due to delay against High Court ruling that where assessee filed its return declaring loss and claimed refund of entire amount of tax paid at source, merely because in immediately preceding assessment year assessee had declared a positive income as against substantial loss declared in relevant assessment year, it could not be a ground to doubt contents of return or claim of assessee with respect to loss suffered and withhold refund claimed by assessee

from www.taxmann.com Latest Case Laws https://www.taxmann.com/research/direct-tax-laws/top-story/101010000000316585/ao-can’t-withhold-refund-merely-because-assessee-declared-huge-income-in-immediately-preceding-year-slp-dismissed.aspx