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Bombay High Court Allows Writ Petition Challenging Reopening of Assessment Under Section 148 of Income Tax Act, 1961 — Notice Issued Beyond Limitation Period. Reopening Based on Non-Escapement of Income as Assessee Had Already Disclosed Full Details During Original Assessment.

The petitioner, Bajaj Energy Limited, a company engaged in energy business, filed its return of income for Assessment Year 2014-15 on 30th November 20...

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Bombay High Court Quashes Reassessment Notice for TCS in Income Tax Case — Lack of Fresh Material and Change of Opinion. Reopening under Section 147 of Income Tax Act, 1961 invalid as reasons recorded were based on same material considered during original assessment, constituting mere change of opinion.

The petitioner, Tata Consultancy Services Ltd., challenged a notice dated 31st March 2021 issued under Section 148 of the Income Tax Act, 1961 seeking...

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Bombay High Court Quashes Reopening Notices Under Section 148 of Income Tax Act for Lack of Fresh Material. Reassessment Based on Change of Opinion Without New Tangible Material is Invalid.

The petitioner, M/s. Alliance Space Pvt. Ltd., a company engaged in property development, challenged two notices dated 24th March 2015 and 29th March ...

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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.

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 ...

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Bombay High Court Quashes Reassessment Notice for Stock Exchange in Income Tax Case — Reopening Beyond Four Years Invalid Without Failure to Disclose. Double Deduction Ground Already Decided in Assessee's Favour for Earlier Year.

The Bombay High Court allowed a writ petition filed by Bombay Stock Exchange Limited challenging a notice under Section 148 of the Income Tax Act, 196...

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Bombay High Court Quashes Reopening Notice in Income Tax Case Due to Lack of Fresh Material Beyond Four Years. Unabsorbed Depreciation Set-Off and Book Profit Adjustments Under Section 115JB of Income Tax Act, 1961 Not Justified for Reopening.

The petitioner, Voltas Limited, filed a writ petition challenging a notice dated 30 March 2011 issued under Section 148 of the Income Tax Act, 1961, s...

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Bombay High Court Quashes Reopening Notice Under Section 148 Income Tax Act for Mere Change of Opinion. Assessment Completed Under Section 143(3) Cannot Be Reopened Without Fresh Tangible Material.

The petitioner, Sanand Properties Pvt. Ltd., filed a return for Assessment Year 2008-09 declaring income of Rs.20.33 lakhs, later revised to Rs.19.14 ...