https://www.taxtmi.com/caselaws?id=256325 The High Court ruled in favor of the petitioner in a case challenging the validity of a notice issued under Section 148 of the Income Tax Act, 1961, for reopening the assessment for Assessment Year 2003-04. The court found that the petitioner was entitled to deduction under Section 80M of the Act and that the notice was invalid due to the non-consideration of diminution in the value of investments while computing book profits under Section 115JB of the Act. The court quashed the notice, citing legal interpretations and precedents supporting the petitioner's position. en-us Thu, 15 Jan 2015 00:00:00 +0530 Mon, 09 Feb 2015 14:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256325 The High Court ruled in favor of the petitioner in a case challenging the validity of a notice issued under Section 148 of the Income Tax Act, 1961, for reopening the assessment for Assessment Year 2003-04. The court found that the petitioner was entitled to deduction under Section 80M of the Act and that the notice was invalid due to the non-consideration of diminution in the value of investments while computing book profits under Section 115JB of the Act. The court quashed the notice, citing legal interpretations and precedents supporting the petitioner's position. Case-Laws Income Tax Thu, 15 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256325