Bombay High Court Quashes Reopening Notice Under Section 148 of Income Tax Act for Lack of Full and True Disclosure — Petitioner Had Disclosed All Material Facts in Return of Income. The court held that the reopening was based on a change of opinion and was invalid as the Assessing Officer did not form a reasonable belief of escapement of income.
7 Aug 2023The petitioner, Astec LifeSciences Ltd., is engaged in the business of manufacturing and trading of agrochemicals and pharmaceutical intermediates. Wi...
