ITA No.2867/Del/2025 Fresenius Kabi Oncology Limited (AY: 2011-12)

Parties Involved

Facts Summary

The assessee, Fresenius Kabi Oncology Limited, is a company engaged in the business of manufacturing, trading, and sale of pharmaceutical products. The assessee filed its return of income for the assessment year 2011-12 declaring income under normal provisions and book profit under Section 115JB of the Income Tax Act, 1961. The return was later revised. The assessing officer passed an assessment order and subsequently issued notices for rectification and reassessment, increasing the book profit and making disallowances. The assessee appealed against the reassessment order before the Commissioner of Income-tax (Appeals), which was upheld. The assessee then filed this appeal, primarily challenging the initiation of reassessment proceedings based on audit objections and without tangible material.…

Legal Issues

• 1. Whether the initiation of reassessment proceedings was valid based on audit objections alone.
• 2. Whether the reassessment was initiated beyond the permissible period.

Judgment Outcome

Decided in favour of Assessee.

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