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Bombay High Court Quashes Reassessment Notice in Income Tax Case Due to Lack of Fresh Material. Reopening Under Section 148 of Income Tax Act, 1961 Based on Mere Change of Opinion on Provision for Unascertained Liabilities is Invalid.

The petitioner, Bajaj Auto Limited, filed its return of income for Assessment Year 2016-17 on 29 November 2016, declaring total income of Rs. 4,860,25...

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Bombay High Court Dismisses Petition Challenging Reassessment Notice Under Section 148 of Income Tax Act for AY 2007-2008. Failure to Assess Consideration Under Distribution Agreement Constitutes Income Escaping Assessment.

The petitioner, Sun Tan Trading Co. Ltd., is engaged in the business of import and distribution of alcoholic beverages in India. It entered into a Dis...

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Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act, 1961 for Lack of Fresh Material. Reassessment Based on Mere Change of Opinion Without New Tangible Material is Invalid.

The petitioner, Zuari Foods and Farms Pvt. Ltd., filed its return of income for Assessment Year 2011-12 declaring nil income after claiming exemption ...

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Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act, 1961 for Lack of Fresh Material. Reopening Based on Mere Change of Opinion on Disallowance Under Section 40(a)(ia) is Invalid.

The petitioner, M/s. NDT Systems, a partnership firm engaged in non-destructive testing business, filed its return of income for assessment year 2007-...

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Bombay High Court Quashes Reopening Notice Under Section 148 of Income Tax Act for Lack of Fresh Material Beyond Four Years. Reopening Based on Change of Opinion Regarding Melting Loss Percentage Not Valid as Original Assessment Under Section 143(3) Had Examined the Issue.

The petitioner, Sound Casting Pvt. Ltd., challenged a notice under Section 148 of the Income Tax Act, 1961 seeking to reopen its assessment for Assess...

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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 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).

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