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Search Results for "reopening notice"

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High Court

Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act for Assessment Year 2013-14 — Reopening Based on Same Issues Already Examined in Section 263 Proceedings Held Invalid as Change of Opinion. The Court held that reopening of assessment under Section 147 is not permissible when the same issues were already examined in revision proceedings under Section 263 and no fresh material exists.

20 Feb 2025

The petitioner, Dilip Gangaram Patil, is engaged in real estate business and filed his return of income for assessment year 2013-14 on 27 September 20...

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 Quashes Reassessment Notice Under Section 148 of Income Tax Act for Lack of Fresh Material. Notice Issued Beyond Four Years Based on Mere Change of Opinion on Already Scrutinized Transactions is Invalid.

7 Aug 2023

The petitioner, Sterlite Technologies Limited, challenged a notice dated 27 March 2021 issued under Section 148 of the Income Tax Act, 1961 for reasse...

High Court

High Court Allows Appeal in Income Tax Reassessment Case Due to Lack of Fresh Material — Reopening Under Section 147/148 Invalid as No New Tangible Material Beyond Original Assessment. The court held that reopening based on survey conducted after original assessment under Section 143(1) without fresh material showing income escaping assessment is not permissible.

24 Aug 2015

The appellant-assessee, an individual, filed his return of income for the assessment year 2004-05 on 21.03.2005. The return was processed under Sectio...

High Court

Karnataka High Court Allows Assessee's Appeal in Income Tax Reopening and Agricultural Income Estimation Case. Reopening under Section 148 of Income Tax Act, 1961 held invalid for lack of tangible material, and Tribunal's reversal of CIT(A)'s agricultural income estimation set aside as perverse.

7 Aug 2015

The appellant, Shri S L Basavaraj (HUF), an assessee, filed appeals against a common order of the Income Tax Appellate Tribunal (ITAT) dated 30 Januar...

High Court

Karnataka High Court Allows Appeal in Income Tax Reassessment Case — Reassessment Invalid When Original Reasons Do Not Survive and Additions Made on New Grounds Without Proper Notice. The court held that under Section 147 of the Income Tax Act, 1961, the Assessing Officer cannot make additions on grounds different from those recorded in the Section 148 notice if the original reasons fail.

1 Jul 2015

The appellant, Sri N Govindaraju, an individual assessee with income from house property, transport business, capital gains, and other sources, filed ...

High Court

Bombay High Court Quashes Reassessment Notices Under Section 148 of Income Tax Act for Lack of Fresh Material. Reassessment Based on Mere Change of Opinion Without New Tangible Material is Invalid.

8 May 2014

The petitioner, Debashu Services Private Limited, a private limited company registered under the Companies Act, 1956, is a regular assessee under the ...

High Court

Bombay High Court Quashes Reopening Notice Under Section 148 of Income Tax Act for Lack of Fresh Material — Assessment Reopened Beyond Four Years Without Allegation of Failure to Disclose Material Facts. Reopening Based on Change of Opinion and Audit Objection Held Invalid.

27 Nov 2013

The petitioner, M/s. Lalitha Chem Industries Pvt. Ltd., is engaged in the business of manufacturing chemicals with units at Tarapur and Silvasa. For A...

High Court

Bombay High Court Quashes Reopening Notice Under Section 148 of Income Tax Act, 1961 for Venture Capital Fund — No Failure to Disclose Material Facts. Reopening Based on Mere Change of Opinion on Applicability of Section 10(23FB) Exemption is Invalid.

14 Jun 2013

The petitioner, DHFL Venture Capital Fund, is a trust registered as a venture capital fund under SEBI (Venture Capital Fund) Regulations, 1996. It fil...

High Court

Bombay High Court Quashes Reopening Notice Under Section 148 of Income Tax Act for Lack of Full and True Disclosure — Investment in Bonds Prior to Sale of Property Does Not Disentitle Deduction Under Section 54EC. The Court held that the assessee had disclosed all material facts and the reopening was based on a change of opinion, thus invalid.

27 Jun 2012

The petitioner, Mrs. Parveen P. Bharucha, filed a writ petition under Article 226 of the Constitution of India challenging a notice dated 31.03.2011 i...

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