Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act for Assessment Year 2013-14 — Reopening Based on Same Issues Already Examined in Section 263 Proceedings Held Invalid as Change of Opinion. The Court held that reopening of assessment under Section 147 is not permissible when the same issues were already examined in revision proceedings under Section 263 and no fresh material exists....
The petitioner, Dilip Gangaram Patil, is engaged in real estate business and filed his return of income for assessment year 2013-14 on 27 September 2013 declaring total income of Rs.54,91,960/-. An as...
