High Court of Bombay at Goa Quashes Reassessment Notice Under Section 148 of Income Tax Act for Lack of Fresh Material — Reopening Beyond Four Years Invalid as No Failure to Disclose Material Facts. The court held that the Assessing Officer cannot reopen assessment on the same material already examined during scrutiny, as it amounts to a change of opinion.
6 Mar 2018The petitioner, Dempo Brothers Private Limited, a company incorporated under the Companies Act, filed its return of income for Assessment Year 2010-11...
