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Bombay High Court Quashes Reassessment Notice Against Bank in Income Tax Case for Lack of Fresh Material. Reopening of Assessment Under Section 148 of Income Tax Act, 1961 Held Invalid as Assessing Officer Had Already Considered Exemption Claim During Original Assessment.

The petitioner, State Bank of India, filed a writ petition under Article 226 of the Constitution of India challenging a notice dated 30.03.2001 issued...

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High Court of Bombay at Goa Quashes Reopening Notice Under Section 147 of Income Tax Act, 1961 for Lack of Full and True Disclosure. Assessee's Claim for Deduction Under Section 80-IA Was Considered During Original Assessment, Hence No Failure to Disclose Material Facts.

The petitioner, Titanor Components Limited, an assessee under the Income Tax Act, 1961, challenged a notice issued under Section 147 of the Act for re...

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Bombay High Court Dismisses Revenue Appeal in Goregaon Sports Club Case — Club Promoting Sports Held Charitable Under Section 2(15) of Income Tax Act, 1961. Principle of Mutuality Not Applicable as Facilities Open to General Public Without Restriction.

The case involves an appeal by the Revenue under Section 260A of the Income Tax Act, 1961 against the decision of the Income Tax Appellate Tribunal (I...

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Bombay High Court Quashes Reassessment Notice in Income Tax Case Due to Lack of Fresh Material and Change of Opinion. Reopening Beyond Four Years Invalid Without Allegation of Failure to Disclose Material Facts Under Section 147/148 of Income Tax Act, 1961.

The petitioner, an advocate by profession, challenged a notice dated 30 March 2011 issued under Section 148 of the Income Tax Act, 1961 seeking to reo...

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Bombay High Court Dismisses Revenue's Appeal in Income Tax Case for Notified Person Under Special Court Act. Interest under Sections 234A, 234B, and 234C of Income Tax Act, 1961 not chargeable due to assets being vested in Custodian.

The case involves an appeal by the Commissioner of Income Tax against the decision of the Income Tax Appellate Tribunal which held that the assessee, ...

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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

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

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Bombay High Court Quashes Reopening Notices Under Section 148 of Income Tax Act for Assessment Years 2005-06 to 2008-09 Due to Lack of Failure to Disclose Material Facts and Change of Opinion. Remuneration Paid to Directors Was Fully Disclosed and Examined During Original Assessment, So Reopening Invalid.

The petitioner, M/s. OHM Stock Brokers Pvt. Ltd., a share and stock broker, challenged notices under Section 148 of the Income Tax Act, 1961 for reope...