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High Court Allows Writ Petition Quashing Reassessment Notice and Assessment Order Under Income Tax Act -- Reassessment Proceedings for AY 2012-13 Declared Time-Barred and Invalid

The petitioner filed a writ petition challenging a reassessment notice under Section 148 of the Income Tax Act, 1961 and the consequent Assessment Ord...

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Supreme Court Acquits Accused in NDPS Case Due to Non-Compliance with Section 50 and Reliance on Inadmissible Section 67 Statements. Conviction for Possession of Heroin Set Aside as Mandatory Safeguards Were Not Followed and Confessional Statements Were Inadmissible Under Tofan Singh.

The Supreme Court allowed the appeals of Anwarkhan Jahilkhan Pathan and Firdoskhan Khurshidkhan Pathan against their conviction under the Narcotic Dru...

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Bombay High Court Dismisses Revenue's Appeal in Income Tax Case — Cooperative Society Entitled to Deduction Under Section 80P(2)(e) on Ginning and Pressing Charges. Reopening of Assessment Based on Change of Opinion Not Justified.

The case involves an appeal by the Commissioner of Income Tax-I, Nagpur against the order of the Income Tax Appellate Tribunal (ITAT) which upheld the...

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Bombay High Court Quashes Reopening of Assessment in Income Tax Case — No Failure to Disclose Material Facts. Reopening under Section 147 of Income Tax Act, 1961 Held Invalid as Assessee Had Made Full Disclosure in Return and Notes.

The petitioner, NYK Line (India) Ltd., a wholly owned subsidiary of a non-resident shipping line, filed its return of income for Assessment Year 2006-...

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Bombay High Court Allows Petitioner in Income Tax Reopening Case — Notice Under Section 148 Quashed as Beyond Four Years Without Failure to Disclose. Reopening of Assessment Based on Change of Opinion Held Invalid Under Section 147 of Income Tax Act, 1961.

The petitioner, Multiscreen Media Private Limited, a company engaged in providing audiovisual television software, films, events, and related activiti...

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Bombay High Court Quashes Reopening Notices Under Section 148 of Income Tax Act for Lack of Reasonable Belief of Income Escaping Assessment. Reassessment Initiated Beyond Four Years Without Fresh Material or Failure to Disclose by Assessee is Invalid.

The judgment concerns two writ petitions filed by M/s German Remedies Ltd., a public limited company engaged in manufacturing pharmaceutical products,...