Bombay High Court Quashes Reassessment Notice Under Section 148 of Income-tax Act for Lack of Fresh Material — Reopening Based on Mere Change of Opinion Not Permissible. The Court held that where the Assessing Officer had already examined the issue of sundry creditors during original scrutiny assessment under Section 143(3), reopening on the same ground without fresh tangible information is invalid.
15 Feb 2023The Petitioner, Punia Capital Pvt. Ltd., challenged the validity of a notice under Section 148 of the Income-tax Act, 1961 and the consequent reopenin...




