Bombay High Court Quashes Reopening Notice Under Section 148 of Income Tax Act for Lack of Full and True Disclosure — Investment in Bonds Prior to Sale of Property Does Not Disentitle Deduction Under Section 54EC. The Court held that the assessee had disclosed all material facts and the reopening was based on a change of opinion, thus invalid.
27 Jun 2012The petitioner, Mrs. Parveen P. Bharucha, filed a writ petition under Article 226 of the Constitution of India challenging a notice dated 31.03.2011 i...
