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Bombay High Court Allows Appeal in Income Tax Case — Reassessment Notice Invalid Beyond Four Years Without Allegation of Non-Disclosure. Arbitration Award Receipt Held as Capital Receipt, Not Income Under Section 147 of the Income Tax Act, 1961.

The appellant, Ramona Pinto, an individual, filed an appeal under Section 260A of the Income Tax Act, 1961, against an order dated 2nd April 2018 pass...

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Bombay High Court Quashes Reassessment Notice Under Section 148 of Income-tax Act, 1961 for Lack of Fresh Material. Reopening Based on Mere Change of Opinion on Capital Gains Computation is Invalid.

The petitioners, A&J Associates (a partnership firm) and its partner Ajay Dilkhush Sarupria, challenged a notice under Section 148 of the Income-tax A...

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High Court of Bombay Quashes Reassessment Notice Issued to Non-Existing Entity in Income Tax Reopening Case — Notice Under Section 148 of Income Tax Act, 1961 Invalid as Issued Against Merged Company.

The petitioner, Siemens Limited, challenged a notice dated 30 March 2015 issued under Section 148 of the Income Tax Act, 1961 for the Assessment Year ...

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Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act for Lack of Independent Application of Mind — Reopening Based on Borrowed Satisfaction from Investigation Wing Held Invalid

The petitioner, Chhagan Chandrakant Bhujbal, challenged a notice dated 31 March 2019 issued under Section 148 of the Income Tax Act, 1961, for the ass...

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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.

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...

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Bombay High Court Quashes Reassessment Notice for Lack of Reasonable Belief of Income Escaping Assessment — Section 148 Notice Based on Change of Opinion Invalid. Reopening Beyond Four Years Requires Failure to Disclose Material Facts, Which Was Not Established.

The petitioner, Fiat India Automobiles Limited, challenged a notice dated 30 March 2012 issued by the Assistant Commissioner of Income Tax under Secti...