Bombay High Court Quashes Reassessment Notice Under Section 148 Income Tax Act for Lack of Fresh Material. Provision for Diminution in Value of Assets Already Disclosed and Considered in Original Assessment Cannot Form Basis for Reopening After Four Years.
21 Jun 2010The petitioner, IOT Infrastructure & Energy Services Ltd., challenged a notice under Section 148 of the Income Tax Act, 1961, seeking to reopen its as...
