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Search Results for "reopening notice"

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High Court

Gujarat High Court Allows Petition Challenging Reassessment Notice Under Section 148 of Income Tax Act, 1961 — Satisfaction Note Recorded Beyond Three-Year Limit Invalid. Reassessment Notice Quashed as Satisfaction Note Was Recorded After Expiry of Three Years from End of Relevant Assessment Year, Violating Section 149(1)(b) of Income Tax Act, 1961.

30 Mar 2026

The petitioner, Aditya H. Patel, a salaried individual, filed his return of income for Assessment Year 2019-20 on 02.09.2019, declaring a total income...

High Court

Bombay High Court Quashes Reassessment Notice Under Section 148 of Income-tax Act, 1961 for Lack of Fresh Material — Reopening Based on Same Material as Original Assessment is Invalid. Change of opinion cannot justify reassessment when the Assessing Officer had already examined the same information during scrutiny under section 143(3).

27 Jun 2023

The judgment concerns two writ petitions filed by Prabhat Properties Private Limited challenging notices under section 148 of the Income-tax Act, 1961...

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 in Income Tax Case Due to Lack of Reason to Believe. Section 148 Notice Set Aside as Reopening Based on Mere Change of Opinion Without Fresh Tangible Material.

9 Jan 2023

The petitioner, Asian Paints Ltd., a public limited company engaged in manufacturing and selling paints, challenged a notice dated 31st March 2021 iss...

High Court

Bombay High Court Quashes Reopening Notice Under Section 148 of Income Tax Act for Lack of Failure to Disclose Material Facts. Reassessment after four years barred unless Revenue shows assessee failed to fully and truly disclose all material facts.

27 Apr 2022

The petitioner, Bhavani Gems Private Limited, challenged a notice dated 30.03.2021 issued under section 148 of the Income Tax Act, 1961 for reopening ...

High Court

Bombay High Court Quashes Reopening Notice Under Section 148 of Income Tax Act for Lack of Fresh Material — Reassessment Based on Mere Change of Opinion is Invalid. The court held that where the Assessing Officer had already considered the issue of set-off of short-term capital gain during scrutiny assessment, reopening after four years without fresh material is impermissible.

31 Aug 2021

The petitioner, First Source Solutions Limited, engaged in contact centre and transaction processing services, had two SEZ units for AY 2012-13. The P...

High Court

Bombay High Court Quashes Reopening Notice in Income Tax Case Due to Lack of Fresh Material — Mere Change of Opinion Not Sufficient for Reassessment Under Section 147 of Income Tax Act, 1961. The court held that the assessing officer cannot reopen an assessment under Section 147 based on the same return already processed under Section 143(1) without any new tangible material, as it would amount to a mere change of opinion.

14 Dec 2018

The petitioner, an individual, filed his return of income for Assessment Year 2013-14 declaring total income of Rs. 65,51,360/-. The return was accept...

High Court

High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Reopening Case — Notice Under Section 148 Held Invalid as No Reasons Recorded. Assessee's Return Accepted Under Section 143(1) Cannot Be Reopened Without Proper Justification Under Section 147 of the Income Tax Act, 1961.

18 Aug 2015

The case pertains to an appeal filed by the Revenue (Commissioner of Income Tax and Deputy Commissioner of Income Tax) against the order of the Income...

High Court

Bombay High Court Quashes Reassessment Notice Under Section 148 Income Tax Act for Lack of Fresh Material. Provision for Diminution in Value of Assets Already Disclosed and Considered in Original Assessment Cannot Form Basis for Reopening After Four Years.

21 Jun 2010

The petitioner, IOT Infrastructure & Energy Services Ltd., challenged a notice under Section 148 of the Income Tax Act, 1961, seeking to reopen its as...

High Court

Bombay High Court Quashes Reassessment Notice for Lack of Reasonable Belief of Income Escapement — Section 148 Income Tax Act, 1961. Reassessment Cannot Be Based on Mere Change of Opinion on Same Facts Already Considered During Original Assessment.

13 Jun 2006

The petitioners, M/s. Devidayal Rolling Mills and its partner Sumanbala Aggarwal, challenged a notice dated 26th March 1992 issued under Section 148 o...

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