Court Sets Three-Year Limitation for Tax Reassessment on Concealed Income Below Rs50 Lakh: Jharkhand High Court

In a significant ruling, the Jharkhand High Court has quashed an income tax notice issued to M/s. Sevensea Vincom Private Limited, through its Director, Mr. Rupak Pasari, citing procedural violations. The case was filed as W.P. (T) No. 2815 of 2023, with the court comprising Hon’ble Mr. Justice Rongon Mukhopadhyay and Hon’ble Mr. Justice Deepak Roshan. Background of the Case: M/s. Sevensea Vincom Private Limited, a Private Limited Company registered…