Search Results for "Income Tax Reassessment"

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Search Results for "Income Tax Reassessment"

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High Court

Gujarat High Court Quashes Reassessment Notice for AY 2015-2016 Due to Non-Compliance with Section 148A and Invalid Sanction. Reassessment proceedings set aside as notice issued after 01.04.2021 without following mandatory procedure under Section 148A(b) and sanction under Section 151 granted by incompetent authority.

3 Mar 2026

The petitioner, Narayan Industries, challenged a reassessment notice dated 09.06.2021 issued under Section 148 of the Income Tax Act, 1961 for Assessm...

High Court

Bombay High Court Quashes Reopening Notice Under Section 148 of Income Tax Act, 1961 for Lack of Fresh Material. Gift of Property by Company to Director's Husband Held Not to be Income, as Assessee's Objections Were Not Properly Considered.

6 Oct 2023

The petitioner, Bakhtawar Construction Co. Pvt. Ltd., a closely held company, challenged a notice dated 30 March 2013 issued under Section 148 of the ...

High Court

Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act for Lack of Reasonable Belief and Change of Opinion. Reassessment Beyond Four Years Invalid Without Proof of Failure to Disclose Material Facts.

30 Jun 2023

The petitioner, Vedanta Limited (formerly Sterlite Opportunities and Ventures Limited), challenged a notice dated 28 March 2008 issued under Section 1...

High Court

Bombay High Court Quashes Reopening Notice Under Section 148 of Income Tax Act for Lack of Fresh Material — Reassessment Based on Same Set of Facts as Original Assessment is Invalid. The court held that where the Assessing Officer had already considered the issue of deduction under section 80IA during the original assessment under section 143(3), reopening on the same ground without any new material amounts to a change of opinion and is not permissible.

27 Jun 2023

The petitioner, Nuclear Power Corporation of India Limited, a Government Corporation engaged in generation of electricity from atomic energy, filed it...

High Court

Bombay High Court Allows Writ Petitions Challenging Reassessment Notices Under Section 148 of Income Tax Act, 1961 — Notices Issued Beyond Time Limit and Without Proper Application of Mind Are Invalid. Reassessment notices for AY 2014-15 and 2015-16 quashed as barred by limitation under Section 149, while notice for AY 2016-17 upheld.

16 Feb 2023

The petitioner, Lok Developers, a registered partnership firm, filed three writ petitions challenging reassessment notices issued under Section 148 of...

High Court

High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Reassessment Case — No Substantial Question of Law Arises. Reassessment Notice Based on Alleged Discrepancy in Accounts Found During Search Was Not Justified as Accounts Were Already Subject to Scrutiny Under Section 143(3).

15 Dec 2015

The Revenue filed appeals under Section 260A of the Income Tax Act, 1961, against a common order of the Income Tax Appellate Tribunal (ITAT) dated 4.7...

High Court

Bombay High Court Quashes Reassessment Notice in Income Tax Case for Lack of Fresh Material. Reopening of Assessment Under Section 147/148 of Income Tax Act, 1961 Based on Mere Change of Opinion Without New Tangible Material is Invalid.

14 Feb 2014

The petitioner, M/s. Crown Consultants Pvt. Ltd., a share and stock broker, filed its return of income for assessment year 2007-08 on 30 October 2007 ...

High Court

Bombay High Court Quashes Reopening Notices Under Section 148 of Income Tax Act for Assessment Years 2005-06 to 2008-09 Due to Lack of Failure to Disclose Material Facts and Change of Opinion. Remuneration Paid to Directors Was Fully Disclosed and Examined During Original Assessment, So Reopening Invalid.

20 Feb 2013

The petitioner, M/s. OHM Stock Brokers Pvt. Ltd., a share and stock broker, challenged notices under Section 148 of the Income Tax Act, 1961 for reope...

High Court

Bombay High Court Quashes Reopening of Assessment in Income Tax Case — No Failure to Disclose Material Facts. Reopening under Section 147 of Income Tax Act, 1961 Held Invalid as Assessee Had Made Full Disclosure in Return and Notes.

10 Feb 2012

The petitioner, NYK Line (India) Ltd., a wholly owned subsidiary of a non-resident shipping line, filed its return of income for Assessment Year 2006-...

High Court

Bombay High Court Dismisses Revenue's Application in Co-operative Bank Deduction Case — Reassessment Notice Under Section 148 Held Invalid Due to Lack of Reasonable Belief. The court upheld the Tribunal's finding that the notice was based on a change of opinion and not on fresh material, thus no question of law arose.

16 Aug 2005

The Commissioner of Income Tax, Mumbai City III, filed an application under section 256(2) of the Income Tax Act, 1961, seeking a reference to the Hig...

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