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Search Results for "reopen assessment"

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High Court

Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act, 1961 for Lack of Valid Approval Under Section 151. Reassessment Notice Issued Beyond Six Years Without Proper Sanction from Specified Authority Held Invalid.

18 Mar 2024

The petitioner, Vibrant Securities Pvt. Ltd., a member of the Bombay Stock Exchange and National Stock Exchange, challenged a reassessment notice date...

High Court

Bombay High Court Allows Writ Petition Challenging Reassessment Notice Under Section 148 of Income Tax Act, 1961 — Notice Issued Beyond Time Limit and Without Proper Sanction. Reassessment Notice Quashed as the Assessing Officer Failed to Record Proper Reasons and Obtain Mandatory Approval Under Section 151 of the Act.

13 Feb 2024

The petitioner, an individual, filed a return of income for Assessment Year 2018-19 on 28 August 2018 declaring total income of Rs.26,26,220/-. Subseq...

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

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 Quashes Reopening Notice Under Section 148 of Income Tax Act for Lack of Failure to Disclose Material Facts. Reassessment After Four Years Invalid as Assessee Had Made Full Disclosure During Original Assessment Under Section 143(3).

24 Jan 2022

The petitioner, Glaxosmithkline Pharmaceuticals Ltd., challenged a notice dated 28 March 2019 issued under Section 148 of the Income Tax Act, 1961 for...

High Court

Bombay High Court Allows Writ Petitions Challenging Rejection of Declaration under Income Declaration Scheme, 2016. The court quashed reassessment and prosecution notices under Section 276CC of Income Tax Act, 1961, holding that valid declaration under the Scheme grants immunity.

8 Mar 2019

The petitioners, Umesh D. Ganore and Mangesh D. Ganore, filed two writ petitions challenging the decision of the Revenue Authority in not accepting th...

High Court

Bombay High Court Quashes Reopening of Assessment in Income Tax Case — Change of Opinion Not Permissible Beyond Four Years. Reassessment Notice Under Section 148 of Income Tax Act, 1961 Set Aside as No Failure to Disclose Material Facts Was Alleged.

14 Mar 2012

The petitioner, Shriram Foundry Ltd., challenged a notice dated 10 February 2011 issued under Section 148 of the Income Tax Act, 1961, seeking to reop...

High Court

Bombay High Court Quashes Reopening of Assessment Under Section 148 of Income Tax Act, 1961 — No Failure to Disclose Material Facts. Retirement Receipt from Partnership Firm Held Not Taxable as Capital Receipt, Not Revenue Receipt.

10 Feb 2010

The petitioner, Balkrishna Hiralal Wani, was a partner in a firm of solicitors. He retired on 20th October 2003 upon attaining the age of seventy year...

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...

High Court

Bombay High Court Quashes Reassessment Notice in Income Tax Case for Lack of Reasons. Notice Under Section 148 of Income Tax Act, 1961 Set Aside as Assessing Officer Failed to Record and Disclose Reasons for Reopening Assessment Completed Under Section 143(3).

16 Aug 2005

The petitioner, Tanna Builders Pvt. Ltd., filed its return for assessment year 1985-86 on 28th June 1985. The Assessing Officer completed the assessme...

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