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Search Results for "reopening assessment"

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High Court

High Court Quashes Reassessment Notice in Income Tax Case Due to Time-Barred Search Proceedings. Reassessment for Assessment Year 2015-16 Based on Search in 2024 Invalid as It Exceeds Ten-Year Limit Under Section 153A of Income Tax Act, 1961, as Per Pre-Amendment Provisions Applicable Under Section 152(3).

20 Jan 2026

The dispute involved a writ petition under Article 226 of the Constitution of India filed by an assessee challenging a reassessment notice issued by t...

High Court

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.

20 Feb 2025

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

High Court

Bombay High Court Allows Petition Quashing Reassessment Notice in Income Tax Case Due to Change of Opinion. Reopening Under Section 148 of Income Tax Act, 1961 Held Invalid When Based on Same Material Considered in Original Assessment.

20 Mar 2024

The petitioner, Shivam Ispat Private Limited, filed its income tax return for Assessment Year 2016-2017 declaring total income of Rs.32,58,510/-. The ...

High Court

Bombay High Court Quashes Reassessment Notices Issued Beyond Time Limit Under Section 149 of Income Tax Act, 1961 — Notices Issued After Expiry of Six Years from End of Relevant Assessment Year Without Satisfying Conditions for Extended Period Held Invalid. The court held that the condition of income escaping assessment of Rs. 1 lakh or more for notice beyond six years was not satisfied, and the reasons recorded lacked tangible material.

8 Mar 2023

The judgment concerns five writ petitions filed by Jetair Pvt. Ltd. challenging notices dated 11 March 2021 issued under Section 148 of the Income Tax...

High Court

Bombay High Court Allows Writ Petition Challenging Reopening of Assessment Under Section 148 of Income Tax Act, 1961 — Notice Issued Beyond Limitation Period Without Proper Application of Mind. Transfer of Transferable Development Rights (TDR) to Wholly Owned Subsidiary Held Not Taxable as Income Under Section 2(24) Read With Section 45 of the Act.

15 Feb 2023

The petitioner, Standard Industries Limited, is engaged in trading of textile goods and real estate development. It owned freehold land at Sewree, Mum...

High Court

Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act for Lack of Fresh Material. Reopening Based on Mere Change of Opinion on Allowability of Sales Promotion and Physician Sample Expenses is Invalid.

10 Feb 2023

The petitioner, Abbott India Limited (successor of Solvay Pharma India Ltd.), challenged a notice dated 27 March 2015 issued under Section 148 of the ...

High Court

Bombay High Court Upholds Reopening of Assessment Under Section 147(a) for Income Tax on Minimum Guarantee Receipts from Film Sale. Assessee's Failure to Disclose Full Consideration for Sale of Movie 'Charas' Justifies Reassessment Despite Partial Acceptance of Addition.

17 Nov 2017

The case involves an income tax reference at the instance of the assessee, who sold a movie titled 'Charas' to M/s. Prakash Pictures on a minimum guar...

High Court

Bombay High Court Quashes Reassessment Notice for Stock Exchange in Income Tax Case — Reopening Beyond Four Years Invalid Without Failure to Disclose. Double Deduction Ground Already Decided in Assessee's Favour for Earlier Year.

27 Mar 2012

The Bombay High Court allowed a writ petition filed by Bombay Stock Exchange Limited challenging a notice under Section 148 of the Income Tax Act, 196...

High Court

Bombay High Court Quashes Reopening Notice Under Section 148 of Income Tax Act for Lack of Fresh Material Beyond Four Years. Reassessment Cannot Be Based Solely on Subsequent Year's Assessment Order Without Allegation of Failure to Disclose Material Facts.

24 Jan 2012

The Petitioner, Sitara Diamond Pvt. Ltd., filed a writ petition under Article 226 of the Constitution challenging a notice dated 20 June 2011 issued u...

High Court

Bombay High Court Quashes Reopening Notice Under Section 148 of Income Tax Act for Lack of Fresh Material — Mere Change of Opinion Not Sufficient to Reopen Assessment After Four Years. The court held that where the original assessment was completed under Section 143(3) after due inquiry, reopening beyond four years requires failure to disclose material facts, which was not established.

18 Jul 2011

The petitioner, Nihilent Technologies Private Limited, a private limited company engaged in software development, challenged a notice dated 29 March 2...

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