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Search Results for "reopen assessment"

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High Court

Gujarat High Court Quashes Reopening Notice Under Section 148 of Income Tax Act for Assessment Year 2015-16 Due to Lack of Live Link and Absence of Allegation of Failure to Disclose Material Facts. Notice Issued Beyond Four Years Without Proper Satisfaction That Income Escaped Assessment Due to Assessee's Failure to Disclose Material Facts.

26 Feb 2026

The petitioner, Jaini Tradelink Pvt. Ltd., a company engaged in wholesale and retail trade and acting as a commission agent, filed its return of incom...

High Court

Bombay High Court Quashes Reassessment Notice in Income Tax Case — No Failure to Disclose Material Facts. Reopening Beyond Four Years Invalid Under Section 147/148 of Income Tax Act, 1961 as Original Assessment Under Section 143(3) Was Full and True Disclosure.

26 Feb 2024

The petitioner, Bajaj Auto Limited, filed its return of income for Assessment Year 2016-17 on 29 November 2016 declaring total income of Rs. 4,860,25,...

High Court

Bombay High Court Allows Writ Petition Challenging Reopening of Assessment Under Section 147 of Income Tax Act, 1961 — Reopening Based on Change of Opinion Without Fresh Material Held Invalid. The court held that the Assessing Officer cannot reopen an assessment merely on a change of opinion when all material facts were disclosed and considered in the original assessment under Section 143(3).

1 Feb 2024

The petitioner, Godrej Projects Development Pvt. Ltd., a company engaged in real estate development and assessed to income tax, filed its return of in...

High Court

Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act for Lack of Reasons and Non-Application of Mind. The court held that the Assessing Officer failed to provide recorded reasons to the assessee and did not apply his mind to the fact that the transaction was already disclosed and examined during the original assessment under Section 143(3).

5 Sep 2023

The petitioner, Ashraf Chitalwala, an individual resident of India, filed his original return of income for Assessment Year 2015-16 on 27th September ...

High Court

Bombay High Court Quashes Reassessment Notice in Income Tax Case Due to Change of Opinion. Notice under Section 148 of Income Tax Act, 1961 for reassessment of derivative transaction loss set aside as Assessing Officer had already examined the issue during original assessment.

22 Apr 2022

The petitioner, Shrikant Phulchand Bhakkad (HUF), through its Karta, filed a writ petition under Article 226 of the Constitution of India challenging ...

Supreme Court

Supreme Court Upholds Reassessment Notice Against NDTV in Income Tax Case Due to Failure to Disclose Material Facts. The Court held that the revenue had valid reason to believe that income had escaped assessment based on findings of sham transactions with subsidiaries under Section 147 of the Income Tax Act, 1961.

3 Apr 2020

The appellant, New Delhi Television Limited (NDTV), an Indian company, filed a return for assessment year 2008-09 declaring a loss. The return was pro...

High Court

Bombay High Court Quashes Reopening Notice Under Section 148 of Income Tax Act for Lack of Reasonable Belief of Income Escaping Assessment. Reopening Beyond Four Years Without Fresh Material Constitutes Change of Opinion on Same Set of Facts.

11 Mar 2020

The petitioner, Gateway Leasing Pvt. Ltd., a non-banking financial company registered under the Companies Act, 1956, filed a writ petition under Artic...

High Court

Bombay High Court Allows Petition Challenging Reassessment Notice Under Section 148 of Income Tax Act — Reassessment Based on Mere Change of Opinion Invalid as Full Disclosure Was Made During Original Assessment.

25 Mar 2015

The petitioner, Plus Paper Food Pac Ltd., filed a writ petition challenging a notice dated 18.11.2013 issued under Section 148 of the Income Tax Act, ...

High Court

Bombay High Court Upholds Settlement Commission's Rejection of Settlement Application for Non-Pending Assessment Proceedings. Settlement Application Filed Before Expiry of Reassessment Limitation Does Not Constitute Pending Proceedings Under Section 245A(b) of Income Tax Act, 1961.

17 Jan 2014

The petitioner, M/s. Shriniwas Machine Craft Pvt. Ltd., a company engaged in fabrication of sheet metal canopies for diesel generating sets, filed a w...

High Court

Bombay High Court Dismisses Revenue's Appeal in Income Tax Reopening Case — Notice Based on Mere Change of Opinion Invalid. Reopening of assessment under Section 148 of the Income Tax Act, 1961 within four years held bad in law when based on change of opinion regarding deduction under Section 36(1)(viii).

9 Jul 2012

The appeal was filed by the Commissioner of Income Tax-3, Mumbai (revenue) under Section 260A of the Income Tax Act, 1961 against the order dated 27/8...

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