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Search Results for "reopening assessment"

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High Court

Bombay High Court Quashes Reopening Notice Under Section 148 of Income Tax Act, 1961 for Lack of Fresh Material. Reassessment Based on Same Material as Original Assessment Without New Tangible Information is Invalid.

6 Oct 2023

The petitioner, an individual assessee, filed his return of income for Assessment Year 2006-07 on 26 October 2007 declaring total income of Rs.2,84,19...

High Court

High Court Quashes Reassessment Notice Against Co-operative Bank for Lack of Fresh Material. Notice under Section 148 of Income Tax Act, 1961 held invalid as Assessing Officer failed to record any new tangible material after completion of original scrutiny assessment.

25 Sep 2023

The petitioner, Gandhibag Sahakari Bank Limited, a co-operative bank, challenged a notice dated 31.03.2021 issued under Section 148 of the Income Tax ...

High Court

Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act, 1961 for Lack of Fresh Material. Reassessment based on mere change of opinion on share premium addition under Section 68 is invalid as all material was disclosed during original assessment.

10 Jul 2023

The petitioner, Rajshree Realtors Private Limited, a real estate company, filed its return of income for Assessment Year 2012-2013 declaring income of...

High Court

Bombay High Court Quashes Reassessment Notice Against Charitable Trust for Lack of Fresh Material. Reopening Beyond Four Years Invalid as No Failure to Disclose Material Facts Under Section 147 of Income Tax Act, 1961.

8 Mar 2023

The petitioner, Framji Dinshaw Petit Parsee Sanatorium, is a public charitable trust registered under section 12A of the Income Tax Act, 1961. For the...

High Court

Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act, 1961 for Lack of Fresh Material. Notice Issued Beyond Four Years Based on Same Material as Original Assessment Held Invalid.

23 Feb 2023

The petitioner, Vibrant Securities Private Limited, a company engaged in stock broking and proprietary trading, challenged a notice under section 148 ...

High Court

Bombay High Court Quashes Reassessment Notices in Income Tax Case Due to Lack of Reason to Believe — Deemed Dividend Addition Based on Incorrect Facts and Non-Application of Mind. The court held that the Assessing Officer must apply his own mind to tangible material before issuing a notice under Section 148 of the Income Tax Act, 1961, and that reopening on the same facts without new material amounts to a change of opinion.

17 Feb 2022

The petitioners, Pavan Morarka and Rachna Morarka, were shareholders in Shivum Holdings Pvt. Ltd. (Shivum) and P&A Estate Pvt. Ltd. (P&A). During the ...

High Court

Bombay High Court at Goa Quashes Reopening Notice Under Section 148 of Income Tax Act, 1961 for Lack of Fresh Material and Change of Opinion. Assessment Reopening After Four Years Invalid Without Failure to Disclose True and Full Facts.

18 Feb 2020

The petitioner, M/s. Anand Developers, a partnership firm, challenged a notice dated 29 March 2019 issued under Section 148 of the Income Tax Act, 196...

High Court

Karnataka High Court Allows Appeals by Garment Dealers in CST Act Reassessment Case — Reopening of Assessment Beyond Four Years Without Allegation of Fraud or Suppression of Facts is Invalid. The court held that the Additional Commissioner's suo motu revision under Section 9(2) of CST Act read with Section 39 of KVAT Act was barred by limitation as no fraud or wilful suppression was alleged.

7 Dec 2017

The case involves multiple appeals filed by garment dealers from Bellary under Section 66(1) of the Karnataka Value Added Tax Act, 2003 (KVAT Act) aga...

High Court

Bombay High Court Quashes Reopening Notice Under Section 148 of Income Tax Act for Lack of Fresh Material — Mere Change of Opinion Invalid. Reassessment Based on Same Commencement Certificate Date Already Considered in Original Assessment Under Section 143(3) Cannot Be Sustained.

19 Jan 2010

The petitioner, M/s. Mistry Lalji Narsi Development Corporation, a partnership firm engaged in development and construction, challenged a notice issue...

High Court

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

22 Aug 2005

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

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