The Mumbai Bench of the Income Tax Appellate Tribunal has granted relief to the Indian Hotels Company Ltd, which owns the Taj hotels chain and set aside an addition of ₹8,22,25,142/- made by the Assessing Officer to its declared income of ₹107,74,26,414/- for the AY 1998-99.The issue before the Tribunal was regarding the validity of reopening for AY 1998-99 beyond a period of 4...