Relief to NDTV, Apex court quashes I-T notice

In a relief to NDTV Ltd, the Supreme Court Friday quashed the notice of the Income Tax department seeking to re-assess the income of the media house for the financial year 2007-08.

A bench of Justices L Nageswara Rao and Deepak Gupta set aside the August 10, 2017 order of the Delhi High Court which had dismissed the petition of NDTV Ltd against the I-T re-assessment notice.

We, accordingly, allow the appeal by holding that the notice issued to the assessee (NDTV) shows sufficient reasons to believe on the part of the assessing officer to re-open the assessment, but since the revenue has failed to show non-disclosure of facts the notice having been issued after four years is required to be quashed, the bench said.