https://www.taxtmi.com/caselaws?id=215098 The court ruled in favor of the petitioner, a public limited company, in a challenge against a notice issued by the respondent under section 148 of the Income Tax Act, 1961 to reopen the assessment for the assessment year 2000-01. The court held that the notice was unsustainable as it did not meet the basic requirement for reopening the assessment, which necessitates the escapement of income due to a failure to disclose all material facts. The court emphasized that the petitioner could not have foreseen the subsequent amendment to section 80HHC at the time of filing the return, thereby concluding that the notice was quashed and set aside. en-us Mon, 02 Jul 2012 00:00:00 +0530 Tue, 24 Jul 2012 11:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215098 The court ruled in favor of the petitioner, a public limited company, in a challenge against a notice issued by the respondent under section 148 of the Income Tax Act, 1961 to reopen the assessment for the assessment year 2000-01. The court held that the notice was unsustainable as it did not meet the basic requirement for reopening the assessment, which necessitates the escapement of income due to a failure to disclose all material facts. The court emphasized that the petitioner could not have foreseen the subsequent amendment to section 80HHC at the time of filing the return, thereby concluding that the notice was quashed and set aside. Case-Laws Income Tax Mon, 02 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215098