Bombay High Court Allows Petition Quashing Reopening of Assessment Under Section 147 of Income Tax Act, 1961 — Reopening Based on Incorrect Information Regarding Cash Deposit. Bank Statement Showing Only Rs.18,000 Cash Deposit Contradicts AIR/CIB Data of Rs.13,40,000, Rendering Reopening Invalid.
5 Jan 2022The petitioner, Yashoda Shivappa Nagangoudar, received a notice dated 16 March 2019 under Section 148 of the Income Tax Act, 1961 for the assessment y...




