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Bombay High Court Quashes Reopening Notice Under Section 148 of Income Tax Act, 1961 for Lack of Valid Reason to Believe. Notice Issued Beyond Four-Year Limit Without Allegation of Failure to Disclose Material Facts Held Invalid.

The petitioner, a partnership firm engaged in government contracts for water supply schemes, filed its return of income for Assessment Year 2016-17 on...

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Bombay High Court Quashes Reassessment Notice and Assessment Order in Income Tax Case Due to Lack of Fresh Material. Reassessment under Section 147/148 of Income Tax Act, 1961 invalid as based on same material already considered in original assessment under Section 143(3).

The petitioner, Pushpa Nahata, challenged a notice under section 148 of the Income Tax Act, 1961 dated 30 March 2022 and an assessment order dated 22 ...

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Bombay High Court Quashes Reassessment Order in Income Tax Case Due to Non-Application of Mind and Lack of Independent Satisfaction. Notice under Section 148 of Income Tax Act, 1961 held invalid as Assessing Officer failed to form independent belief based on tangible material.

The petitioner, Devkant Synthetics India Pvt. Ltd., a company engaged in trading of shares and securities, filed its return of income for assessment y...

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Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act for Lack of Independent Application of Mind by AO. Reassessment based on borrowed satisfaction from investigation wing without forming own belief is invalid.

The petitioner, Skoda Auto Volkswagen India Private Limited, challenged a notice dated 23rd March 2011 issued under Section 148 of the Income Tax Act,...

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Bombay High Court Allows Tax Appeal in Family Settlement Capital Gains Case — Reopening Under Section 147/148 Invalid Due to Change of Opinion and Limitation. Consent Decree Approved by Civil Court Held to Be a Bona Fide Family Arrangement Not Attracting Capital Gains Tax.

The case involves a tax appeal by the Power of Attorney holder of Lorna Margaret Pinto, a Non-Resident Indian, against the Assistant Commissioner of I...

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Bombay High Court Quashes Reassessment Notice in Income Tax Case — Lack of Reasonable Belief of Income Escaping Assessment. Reopening Based on Change of Opinion Without Fresh Material Held Invalid Under Section 147 of the Income Tax Act, 1961.

The petitioner, M/s. Bharat Bijlee Limited, challenged a notice dated 12.10.2012 issued under Section 148 of the Income Tax Act, 1961, and an order di...

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Bombay High Court Quashes Reopening Notice Under Section 148 of Income Tax Act for Lack of Fresh Material — Full Disclosure of Waiver of Interest in Original Assessment Precludes Reassessment After Four Years.

The Petitioner, Lok Housing and Construction Limited, challenged a notice dated 29 March 2011 issued under Section 148 of the Income Tax Act, 1961, se...