High Court Allows Appeal in Income Tax Reassessment Case Due to Lack of Fresh Material — Reopening Under Section 147/148 Invalid as No New Tangible Material Beyond Original Assessment. The court held that reopening based on survey conducted after original assessment under Section 143(1) without fresh material showing income escaping assessment is not permissible.
24 Aug 2015The appellant-assessee, an individual, filed his return of income for the assessment year 2004-05 on 21.03.2005. The return was processed under Sectio...
