Bombay High Court Quashes Reopening of Assessment Under Section 148 of Income Tax Act, 1961 — No Failure to Disclose Material Facts. Retirement Receipt from Partnership Firm Held Not Taxable as Capital Receipt, Not Revenue Receipt.
10 Feb 2010The petitioner, Balkrishna Hiralal Wani, was a partner in a firm of solicitors. He retired on 20th October 2003 upon attaining the age of seventy year...




