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Madras High Court Allows Assessee's Appeal in Income Tax Penalty Case — Typographical Error in Return Does Not Attract Penalty Under Section 271(1)(c). Bonafide belief and full disclosure of transaction negate mens rea for concealment.

The appellant, Ms. Saritha Jain, an income tax assessee, sold her shares in M/s. Vision Health Services (P) Ltd., an Indian company, to M/s. Perot Sys...

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Madras High Court Allows Appeal in Income Tax Reassessment Case — Misappropriation by Partner's Relative Not Covered Under Section 40A(2) of Income Tax Act, 1961. Reassessment based on same material held invalid as change of opinion.

The assessee, M/s.Karpaga Vinayagar Papers, a partnership firm, filed its income tax return for Assessment Year 2001-2002 admitting a total income of ...

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Gujarat High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act, 1961 for Lack of Proper Sanction Under Section 151. Sanctioning Authority Must Apply Independent Mind and Not Merely Rely on Proposal of Assessing Officer.

The petitioner, Gulbrandsen Private Limited, filed a writ petition before the Gujarat High Court challenging a notice dated 16.06.2025 issued under Se...

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High Court Quashes Reassessment Notice Under Income-tax Act as Time-Barred -- Reassessment for Assessment Year 2015-16 Held Invalid Due to Limitation Under Sections 148, 149, 153A, and 153C

The High Court of Gujarat allowed a writ petition challenging a reassessment notice under Section 148 of the Income-tax Act, 1961 for Assessment Year ...

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Bombay High Court Quashes Reassessment Notice in Income Tax Case Due to Lack of Prior Recording of Reasons. Reopening under Section 148 of Income Tax Act, 1961 Held Invalid as Reasons Not Recorded Before Issuance of Notice.

The petitioner, M/s. Indusind Media & Communications Ltd., filed its return of income for assessment year 2007-08, which was revised and subsequently ...

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Madras High Court Allows Revenue's Appeals in Income Tax Block Assessment Case - Upholds Addition of Unexplained Cash Credits Under Section 68 of Income Tax Act, 1961. The court held that the assessee failed to prove the genuineness of cash credits, reversing the Tribunal's order.

The Revenue filed appeals under Section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tribunal, 'B' Bench, Chennai, w...

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Bombay High Court Quashes Reopening Notice in Income Tax Case Due to Lack of Failure to Disclose Material Facts. Reassessment Beyond Four Years Invalid Without Proof of Non-Disclosure Under Section 147 of Income Tax Act, 1961.

The petitioner, 3i Infotech Limited, challenged a notice dated 18 March 2009 issued by the Assistant Commissioner of Income Tax seeking to reopen the ...

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Bombay High Court Quashes Reopening Notice in Income Tax Case Due to Lack of Fresh Material — Interest on Refund Net of Interest Paid Under Section 220 Was Fully Disclosed During Original Assessment

The petitioner, Arthur Anderson & Co., filed a writ petition under Article 226 of the Constitution challenging a notice dated 4 February 2009 issued b...

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Bombay High Court Quashes Reopening Notices Under Section 148 of Income Tax Act, 1961 for Lack of Fresh Material — Reassessment Based on Search of Third Party Without Nexus to Assessee's Income Not Valid

The petitioner, Sanghvi Swiss Refills Pvt. Ltd., a manufacturer of ball pens and refills, challenged notices dated March 30, 1989 issued under Section...