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Search Results for "income escaped assessment"

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High Court

Bombay High Court Allows Writ Petition Challenging Reassessment Notice Under Section 148 of Income Tax Act, 1961 — Notice Issued Beyond Time Limit Under Section 149(1)(b) Without Proper Sanction Held Invalid. The court held that a reassessment notice issued after four years from the end of the relevant assessment year requires proper sanction under Section 151, and sanction by a Joint Commissioner instead of the Principal Commissioner or Commissioner renders the notice invalid.

18 Mar 2024

The petitioner, Sahana Dwellers Private Limited, filed its return of income for Assessment Year 2015-16 on 30 September 2015, declaring a total income...

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. Change of opinion cannot justify reassessment when the Assessing Officer had already examined the same information during scrutiny under section 143(3).

27 Jun 2023

The judgment concerns two writ petitions filed by Prabhat Properties Private Limited challenging notices under section 148 of the Income-tax Act, 1961...

High Court

Bombay High Court Quashes Reassessment Notice in Income Tax Case Due to Lack of Reason to Believe. Section 148 Notice Set Aside as Reopening Based on Mere Change of Opinion Without Fresh Tangible Material.

9 Jan 2023

The petitioner, Asian Paints Ltd., a public limited company engaged in manufacturing and selling paints, challenged a notice dated 31st March 2021 iss...

High Court

Bombay High Court Allows Writ Petition Challenging Reassessment Notice Under Section 148 of Income Tax Act, 1961 for Lack of Fresh Material. Reassessment Notice Quashed as Based on Mere Change of Opinion Where Original Assessment Under Section 143(3) Had Examined Section 54 Exemption Claim.

15 Mar 2022

The petitioner, Gagan Omprakash Navani, an individual assessed to tax, filed a return of income for Assessment Year 2016-2017 on 10 April 2017, declar...

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 Without New Tangible Material is Invalid.

13 Mar 2018

The petitioner, Zuari Foods and Farms Pvt. Ltd., filed its return of income for Assessment Year 2011-12 declaring nil income after claiming exemption ...

High Court

Bombay High Court Allows Petition Challenging Reopening of Assessment Under Section 148 of Income Tax Act, 1961 for Assessment Year 1990-91. Reassessment Based on Change of Opinion Without Fresh Material is Invalid and Section 45(4) Does Not Apply to Distribution of Assets on Retirement of Partner.

21 Nov 2016

The petitioner, a partnership firm, challenged a notice under Section 148 of the Income Tax Act, 1961 dated 21st July 2003 seeking to reopen the asses...

High Court

High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Reassessment Case — Notice Issued Beyond Four-Year Limit Invalid. Reassessment notice under Section 148 of the Income Tax Act, 1961, issued after expiry of four years from end of relevant assessment year, without alleging failure to disclose material facts, is barred by limitation under Section 149(1)(b).

10 Aug 2015

The case involves appeals filed by the Income Tax Department against an order of a learned Single Judge of the Karnataka High Court, which had quashed...

High Court

Bombay High Court Allows Reference on Double Taxation Issue in Income Tax Case — Assessee Company Cannot Be Taxed Again on Income Already Assessed in Export Firm's Hands. The court considered whether income already assessed in the hands of an export firm could be taxed again in the hands of the assessee limited company, noting that the facts were not in dispute.

8 May 2015

The case involves an income tax reference by the Bombay High Court at Nagpur Bench. The assessee, R.B. Shreeram Durgaprasad (P) Limited, Tumsar, chall...

High Court

Bombay High Court Allows Petition Challenging Reopening of Assessment in Income Tax Case Due to Lack of Fresh Material. Notice under Section 148 issued beyond four years quashed as there was no failure to disclose material facts and the reasons constituted a change of opinion.

4 Mar 2010

The petitioner, Anil Radhakrishna Wani, a solicitor and advocate, was a partner of Little & Company and retired on 30 September 2002. Upon retirement,...

High Court

Bombay High Court Quashes Reopening Notices Under Section 148 of Income Tax Act for Lack of Reasonable Belief of Income Escaping Assessment. Reassessment Initiated Beyond Four Years Without Fresh Material or Failure to Disclose by Assessee is Invalid.

28 Oct 2005

The judgment concerns two writ petitions filed by M/s German Remedies Ltd., a public limited company engaged in manufacturing pharmaceutical products,...

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