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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 Notice Under Section 148 of Income Tax Act, 1961 for Lack of Fresh Material. Notice Issued Beyond Four Years Based on Same Material as Original Assessment Held Invalid.

The petitioner, Vibrant Securities Private Limited, a company engaged in stock broking and proprietary trading, challenged a notice under section 148 ...

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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.

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

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Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act for Lack of Proper Sanction. Notice Issued Beyond Four Years Requires Approval from Principal Chief Commissioner Under Section 151(1), Not Joint Commissioner.

The petitioner, MA Multi-Infra Development Pvt. Ltd., challenged a notice dated 31st March 2021 issued under Section 148 of the Income Tax Act, 1961 f...

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Bombay High Court Dismisses Revenue's Appeal in Section 80IA(4) Deduction Case for Warehousing Corporation. Assessee's warehousing facility held to be part of port infrastructure eligible for deduction under Income Tax Act, 1961.

The case involves an appeal by the Principal Commissioner of Income Tax-6 against the order of the Income Tax Appellate Tribunal (ITAT), Pune, which a...

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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...