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Search Results for "reopening of assessment"

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High Court

Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act for Lack of Full and True Disclosure — Reopening Beyond Four Years Invalid Without Allegation of Failure to Disclose Material Facts. The court held that a notice under Section 148 issued after four years from the end of the assessment year is invalid if the reasons do not allege that the assessee failed to disclose fully and truly all material facts necessary for assessment.

14 Nov 2005

The petitioner, Mangalore Refinery & Petrochemicals Limited, a public limited company engaged in running a petroleum refinery at Mangalore, filed a wr...

High Court

Bombay High Court Dismisses Revenue's Appeal in Income Tax Reopening Case. ITAT's Decision Invalidating Reopening Under Section 147 of Income Tax Act, 1961 Upheld Due to Lack of Reasonable Belief.

14 Feb 2005

The case involves an appeal by the Commissioner of Income Tax against an order of the Income Tax Appellate Tribunal (ITAT) which held that the reopeni...

High Court

Bombay High Court Allows Writ Petition Challenging Reassessment Notices for Non-Disclosure of Reasons. Failure to Supply Recorded Reasons Under Section 147 of Income Tax Act, 1961 Violates Natural Justice and Renders Reopening Invalid.

16 Aug 2005

The petitioner, Ajay Oxycholoride Floorings, a partnership firm, challenged two notices dated 20th February 1990 and 3rd June 1991 issued by the Assis...

High Court

Bombay High Court Quashes Reassessment Notice in Income Tax Case for Lack of Reasons. Notice Under Section 148 of Income Tax Act, 1961 Set Aside as Assessing Officer Failed to Record and Disclose Reasons for Reopening Assessment Completed Under Section 143(3).

16 Aug 2005

The petitioner, Tanna Builders Pvt. Ltd., filed its return for assessment year 1985-86 on 28th June 1985. The Assessing Officer completed the assessme...

High Court

Bombay High Court Quashes Reopening Notices Under Section 148 of Income Tax Act, 1961 for Lack of Fresh Material — Reassessment Based on Search of Third Party Without Nexus to Assessee's Income Not Valid

22 Aug 2005

The petitioner, Sanghvi Swiss Refills Pvt. Ltd., a manufacturer of ball pens and refills, challenged notices dated March 30, 1989 issued under Section...

High Court

Bombay High Court Allows Tax Appeal in Family Settlement Capital Gains Case — Reopening Under Section 147/148 Invalid Due to Change of Opinion and Limitation. Consent Decree Approved by Civil Court Held to Be a Bona Fide Family Arrangement Not Attracting Capital Gains Tax.

8 Nov 2019

The case involves a tax appeal by the Power of Attorney holder of Lorna Margaret Pinto, a Non-Resident Indian, against the Assistant Commissioner of I...

High Court

Bombay High Court Allows Tax Appeal in Expenditure Tax Reassessment Case Due to Non-Compliance with Natural Justice Principles. Reassessment Order Set Aside for Failure to Furnish Reasons and Dispose Objections as Mandated by GKN Driveshaft.

30 Aug 2019

The appellant, Fomento Resorts & Hotels Ltd., filed a return under the Expenditure Tax Act, 1987 for assessment year 1997-98 showing nil chargeable ex...

High Court

Bombay High Court Dismisses Revenue's Appeal in Income Tax Reassessment Case — Reopening Based on Change of Opinion Invalid. ITAT Correctly Held That Reassessment Under Section 147 Was Not Justified as There Was No Failure to Disclose Material Facts.

31 Jul 2019

The case involves a tax appeal by the Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal (ITAT) which upheld the cancel...

High Court

Bombay High Court Allows Revenue Appeals in Part, Remands for Fresh Consideration of Exemption Under Section 10(23C)(iiiab) of Income Tax Act, 1961 — Tribunal's Order Set Aside for Not Considering Whether Assessee is Wholly or Substantially Financed by Government.

26 Mar 2019

The case involves three appeals filed by the Revenue under Section 260A of the Income Tax Act, 1961, challenging two orders of the Income Tax Appellat...

High Court

Bombay High Court Quashes Reassessment Notice in Income Tax Case Due to Change of Opinion. Reopening of Assessment Under Section 148 of Income Tax Act, 1961 Based on Mere Change of Opinion Without New Material is Invalid.

9 Jul 2012

The petitioner, M/s. Rabo India Finance Limited, a non-banking financial company, challenged a notice dated 28.3.2011 issued under Section 148 of the ...

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