Bombay High Court Quashes Reassessment Notice for Lack of Fresh Material — Section 10A Deduction Cannot Be Reopened Based on Subsequent Year's Findings Without Independent Reason to Believe. The Court held that reopening of assessment under Section 148 requires independent material and cannot be based on a change of opinion or findings from a later assessment year.
9 Feb 2012The petitioner, Siemens Information Systems Limited, filed its return of income for Assessment Year 2004-05 declaring nil income after claiming a dedu...






