High Court rules in favor of taxpayer: Notice under section 148 unjustified, assessment under section 147 quashed.

The High Court of Bombay ruled in favor of the taxpayer, holding that the notice issued under section 148 was not justified, and assessment proceedings initiated under section 147 were to be quashed.

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The High Court of Bombay heard a case involving the Income Tax Act, 1961. The court admitted the case based on the question of law regarding the justification of issuing notice u/s.148 and quashing assessment proceedings initiated u/s.147.

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