PMLA anticipatory bail requires satisfaction of twin conditions, while predicate-offence protection does not extend to independent money-laundering pr...
School-affiliation charges remain taxable where not directly connected with examinations, while extended limitation requires proof of deliberate tax e...
The HC quashed the reassessment notice issued under section 148, finding it impermissible as a mere change of opinion rather than based on new information. The authorities sought to reopen assessment regarding the taxpayer's section 54B deduction claim, despite having previously considered this issue during the original section 143(3) assessment. The court held that reopening requires "reasons to believe" with direct nexus to new tangible material, not merely alleging inadequate inquiry by the previous Assessing Officer. Since the taxpayer had fully disclosed all relevant documents during the original assessment, the reopening was invalid in law. Judgment favored the assessee.
The HC quashed the reassessment notice issued under section 148, finding it impermissible as a mere change of opinion rather than based on new information. The authorities sought to reopen assessment regarding the taxpayer's section 54B deduction claim, despite having previously considered this issue during the original section 143(3) assessment. The court held that reopening requires "reasons to believe" with direct nexus to new tangible material, not merely alleging inadequate inquiry by the previous Assessing Officer. Since the taxpayer had fully disclosed all relevant documents during the original assessment, the reopening was invalid in law. Judgment favored the assessee.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
