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Madras High Court Allows Assessee's Appeal in Income Tax Penalty Case — Typographical Error in Return Does Not Attract Penalty Under Section 271(1)(c). Bonafide belief and full disclosure of transaction negate mens rea for concealment.

The appellant, Ms. Saritha Jain, an income tax assessee, sold her shares in M/s. Vision Health Services (P) Ltd., an Indian company, to M/s. Perot Sys...

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Gujarat High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act, 1961 for Lack of Proper Sanction Under Section 151. Sanctioning Authority Must Apply Independent Mind and Not Merely Rely on Proposal of Assessing Officer.

The petitioner, Gulbrandsen Private Limited, filed a writ petition before the Gujarat High Court challenging a notice dated 16.06.2025 issued under Se...

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High Court Quashes Reassessment Notice Under Income-tax Act as Time-Barred -- Reassessment for Assessment Year 2015-16 Held Invalid Due to Limitation Under Sections 148, 149, 153A, and 153C

The High Court of Gujarat allowed a writ petition challenging a reassessment notice under Section 148 of the Income-tax Act, 1961 for Assessment Year ...

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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 Reopening Notice Under Section 148 of Income Tax Act for Lack of Fresh Material. Reassessment based on change of opinion without new tangible material is invalid.

The petitioner, an individual assessee, filed his income tax return for Assessment Year 2010-11 on 30 March 2011 declaring income of ₹1.70 Crore and...

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Bombay High Court Quashes Reopening Notice Under Section 148 Income Tax Act for Mere Change of Opinion. Assessment Completed Under Section 143(3) Cannot Be Reopened Without Fresh Tangible Material.

The petitioner, Sanand Properties Pvt. Ltd., filed a return for Assessment Year 2008-09 declaring income of Rs.20.33 lakhs, later revised to Rs.19.14 ...

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Bombay High Court Quashes Reopening Notice Under Section 148 for Lack of Fresh Material. Reassessment Based on Mere Change of Opinion on Exemption Under Section 10(38) of Income Tax Act, 1961 is Invalid.

The Petitioner, General Insurance Corporation of India, a public sector general insurance company, filed a return of income for Assessment Year 2006-0...

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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 Dismisses Revenue's Appeal in Income Tax Reopening Case. ITAT's Decision Invalidating Reopening Under Section 147 of Income Tax Act, 1961 Upheld Due to Lack of Reasonable Belief.

The case involves an appeal by the Commissioner of Income Tax against an order of the Income Tax Appellate Tribunal (ITAT) which held that the reopeni...