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Search Results for "reopening of assessment"

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High Court

Bombay High Court Allows Writ Petition Challenging Reopening of Assessment Under Section 147 of Income Tax Act, 1961 — Reopening Based on Change of Opinion Without Fresh Material Held Invalid. The court held that the Assessing Officer cannot reopen an assessment merely on a change of opinion when all material facts were disclosed and considered in the original assessment under Section 143(3).

1 Feb 2024

The petitioner, Godrej Projects Development Pvt. Ltd., a company engaged in real estate development and assessed to income tax, filed its return of in...

High Court

Bombay High Court Allows Writ Petition Challenging Reopening of Assessment Under Section 148 of Income Tax Act, 1961 — Notice Issued Beyond Six-Year Limit Without Proper Sanction Held Invalid. Reassessment Notice Quashed as Approval Under Section 151 Was Granted by Incompetent Authority and No Failure to Disclose Material Facts Was Established.

13 Feb 2024

The petitioner, Ashok Chaganlal Thakkar, an individual, had invested in parcels of land at Ardhe and Aase in Taluka Karjat, District Raigad. During th...

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 as Change of Opinion.

15 Jan 2024

The petitioner, Geopreneur Realty Private Limited, a real estate development company, challenged a notice dated 30 March 2021 issued under Section 148...

High Court

Bombay High Court Allows Writ Petitions Challenging Reopening of Assessments Under Section 147 of Income Tax Act, 1961 — Reopening Based on Change of Opinion and Non-Disclosure of Material Facts Held Invalid. The court held that reassessment notices issued without tangible material and based on a change of opinion are invalid, and that the assessee's failure to disclose primary facts is a prerequisite for invoking the proviso to Section 147.

19 Jan 2024

The judgment pertains to two writ petitions filed by corporate assessees challenging the reopening of their income tax assessments for the assessment ...

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. Reopening Based on Non-Escapement of Income as Assessee Had Already Disclosed Full Details During Original Assessment.

23 Jan 2024

The petitioner, Bajaj Energy Limited, a company engaged in energy business, filed its return of income for Assessment Year 2014-15 on 30th November 20...

High Court

Bombay High Court Hears Writ Petition Challenging Validity of Reopening Notice Under Section 148 of Income Tax Act for Assessment Year 2015-16. The Reopening Based on Alleged Escaped Income from Capital Reduction Transaction Is Contested on Grounds of Full Disclosure During Original Assessment.

8 Mar 2023

The petitioner, an investment holding company incorporated in Singapore and under creditors' voluntary liquidation, held shares in Lehman Brothers Cap...

High Court

High Court of Karnataka Adjudicates Writ Petition Challenging Reopening of Assessment Under Sections 147/148 of Income Tax Act, 1961. Petition Contended That Reopening Was Barred by Limitation and Without Jurisdiction; Court Examined the First Proviso to Section 147 and the Requirement of Full Disclosure.

19 Sep 2025

The petitioner, a company engaged in software development and providing services to foreign clients, challenged the reopening of its assessment for th...

High Court

High Court Quashes Reopening of Assessment for AY 1998-99 Due to Lack of Allegation of Failure to Disclose Material Facts. Reopening Beyond Four Years Invalid as Reasons Did Not Indicate Assessee's Failure to Disclose Fully and Truly All Material Facts as Required by Proviso to Section 147 of Income Tax Act, 1961.

26 Nov 2021

The dispute arose from a notice under Section 148 of the Income Tax Act, 1961 seeking to reopen the assessment for Assessment Year 1998-1999, issued o...

High Court

High Court of Bombay Quashes Reopening Notice Against Assessee on Ground of Change of Opinion. Reassessment beyond four years not permissible when primary facts fully disclosed and no failure to disclose material facts.

15 Nov 2021

The petitioner, a private limited company engaged in selling hair care products and providing consultancy services, challenged a notice dated 29 March...

High Court

Bombay High Court Dismisses Revenue's Appeal in Income Tax Reassessment Case Due to Change of Opinion. Queries During Original Assessment and Assessee's Response Amount to Formation of Opinion Barring Reopening Under Sections 143 and 147 of Income Tax Act, 1961, Lacking Tangible Material.

26 Oct 2021

By way of background, the appeal before the Bombay High Court arose under Section 268A of the Income Tax Act, 1961 against an order of the Income Tax ...

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