https://www.taxtmi.com/caselaws?id=244355 The High Court quashed the notice under Section 147/148 of the Income Tax Act, 1961, for reopening assessments of M/s Ralson (India) Ltd. for the assessment year 1990-91. The Court emphasized the necessity of valid reasons and tangible material for reassessment, highlighting that the reasons provided did not directly relate to the assessment year in question. The judgment underscored the importance of compliance with legal provisions and precedents in income tax matters, ultimately ruling in favor of the appellant and halting further proceedings. en-us Thu, 02 Jan 2014 00:00:00 +0530 Mon, 24 Feb 2014 05:40:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244355 The High Court quashed the notice under Section 147/148 of the Income Tax Act, 1961, for reopening assessments of M/s Ralson (India) Ltd. for the assessment year 1990-91. The Court emphasized the necessity of valid reasons and tangible material for reassessment, highlighting that the reasons provided did not directly relate to the assessment year in question. The judgment underscored the importance of compliance with legal provisions and precedents in income tax matters, ultimately ruling in favor of the appellant and halting further proceedings. Case-Laws Income Tax Thu, 02 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244355