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Search Results for "income tax reassessment"

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High Court

Madras High Court Quashes Reassessment Notice Under Section 148 Income Tax Act as Time-Barred; Notice Dispatched on 1st April 2021 Beyond Limitation. Reopening Based on Accommodation Entry Information Without Independent Material Held Invalid for AY 2013-14.

20 Feb 2025

The petitioner, a proprietor of a petrol bunk, challenged a reassessment notice under Section 148 of the Income Tax Act, 1961 for Assessment Year 2013...

High Court

Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act for Lack of Reasons and Non-Application of Mind. The court held that the Assessing Officer failed to provide recorded reasons to the assessee and did not apply his mind to the fact that the transaction was already disclosed and examined during the original assessment under Section 143(3).

5 Sep 2023

The petitioner, Ashraf Chitalwala, an individual resident of India, filed his original return of income for Assessment Year 2015-16 on 27th September ...

High Court

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.

4 Dec 2012

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

High Court

Bombay High Court Quashes Reassessment Notices and Orders Under Section 153 of Income Tax Act, 1961 for Lack of Valid Sanction and Non-Application of Mind. Reassessment proceedings initiated without proper approval under Section 151(2) and based on borrowed satisfaction are invalid.

4 Sep 2023

The petitioner, Ashok Commercial Enterprises, filed nine writ petitions challenging reassessment notices dated 19th July 2021 and 14th July 2021 issue...

High Court

Bombay High Court Dismisses Revenue's Appeal in Income Tax Reopening Case — Reopening Invalid Due to Change of Opinion. Tribunal's finding that reassessment notice was based on mere change of opinion upheld under Section 147 of Income Tax Act, 1961.

5 Sep 2011

The case pertains to an appeal by the Revenue against the order of the Income Tax Appellate Tribunal (ITAT) which held that the reopening of assessmen...

High Court

Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act for Lack of Full and True Disclosure. Petitioner's claim of set off of unabsorbed depreciation was disclosed in return and notes, hence no failure to disclose material facts.

14 Jul 2023

The petitioner, Mukand Limited, a company incorporated under the Indian Companies Act, 1913, filed a writ petition challenging a notice dated 26th Apr...

High Court

Bombay High Court Allows Writ Petitions Challenging Income Tax Reassessment Notices for Lack of Jurisdiction and Non-Application of Mind. The court held that the Assessing Officer failed to form a valid belief of income escaping assessment under Section 147 of the Income Tax Act, 1961, as the reasons recorded were based on borrowed satisfaction and lacked independent application of mind.

17 Oct 2019

The petitioner, Vodafone Idea Limited (successor in interest of Idea Cellular Ltd and erstwhile Vodafone India Ltd), filed two writ petitions challeng...

High Court

Bombay High Court Quashes Reopening Notice Under Section 148 of Income Tax Act for Lack of Fresh Material — Reassessment Based on Mere Change of Opinion is Invalid. The court held that where the Assessing Officer had already considered the issue of set-off of short-term capital gain during scrutiny assessment, reopening after four years without fresh material is impermissible.

31 Aug 2021

The petitioner, First Source Solutions Limited, engaged in contact centre and transaction processing services, had two SEZ units for AY 2012-13. The P...

High Court

Karnataka High Court Adjudicates upon Writ Petitions Challenging Re-Assessment Proceedings for Assessment Years 2005-06 to 2007-08. Court Analyzes Whether Notices are Barred by Limitation and Whether Assessee Failed to Disclose Material Facts.

19 Dec 2023

The petitioner, EIT Services India Pvt. Ltd. (formerly Hewlett Packard Globalsoft Private Limited), a company engaged in export of software services a...

High Court

Bombay High Court Quashes Reassessment Notice in Income Tax Case Due to Change of Opinion — Reopening Under Section 147 Invalid as Issue Already Decided by CIT(A) in Favour of Assessee. The court held that the reassessment notice under Section 148 was based on the same issue already decided by the appellate authority, constituting a change of opinion and barred by the proviso to Section 147 of the Income Tax Act, 1961.

26 Apr 2024

The petitioner, M/s. Poonam Builders, an Association of Persons (AOP) engaged in construction business, completed a residential project named 'Harsh V...

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