https://www.taxtmi.com/caselaws?id=336910 The High Court ruled in favor of a Cooperative Bank in a case challenging the reopening of assessment under Section 148 of the Income Tax Act for AY 2009-10 beyond the four-year period. The Court held that the Assessing Officer failed to establish any failure on the part of the bank to disclose correct facts during the original assessment, as required by law. Citing the precedent set in CIT vs. Kelvinator of India Limited (2010), the Court quashed the notice to reopen the assessment, thereby allowing the petition and halting the reassessment proceedings for the relevant assessment year. en-us Tue, 13 Dec 2016 00:00:00 +0530 Fri, 30 Dec 2016 18:14:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336910 The High Court ruled in favor of a Cooperative Bank in a case challenging the reopening of assessment under Section 148 of the Income Tax Act for AY 2009-10 beyond the four-year period. The Court held that the Assessing Officer failed to establish any failure on the part of the bank to disclose correct facts during the original assessment, as required by law. Citing the precedent set in CIT vs. Kelvinator of India Limited (2010), the Court quashed the notice to reopen the assessment, thereby allowing the petition and halting the reassessment proceedings for the relevant assessment year. Case-Laws Income Tax Tue, 13 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336910