Bombay High Court Quashes Reopening of Assessment Under Section 148 of Income Tax Act, 1961 for Lack of Fresh Material. Reassessment Based on Mere Change of Opinion on Allowability of Deduction and Depreciation Rate is Invalid.
8 Mar 2010The petitioner, Aventis Pharma Ltd., challenged a notice dated 16th March 2009 issued under Section 148 of the Income Tax Act, 1961, seeking to reopen...
