https://www.taxtmi.com/caselaws?id=375369 The court ruled in favor of the petitioner, a pharmaceutical company, in a case challenging a notice issued under section 148 of the Income Tax Act to reopen assessment for the assessment year 2011-12. The court found that the notice was based on existing records without any new material and was issued beyond the permissible period. As the petitioner had disclosed all necessary information during scrutiny and there was no failure to disclose material facts, the court held that the notice to reopen the assessment lacked legal authority. The court allowed the petition, quashed the notice, and made the rule absolute with no costs. en-us Mon, 10 Dec 2018 00:00:00 +0530 Mon, 18 Feb 2019 06:37:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375369 The court ruled in favor of the petitioner, a pharmaceutical company, in a case challenging a notice issued under section 148 of the Income Tax Act to reopen assessment for the assessment year 2011-12. The court found that the notice was based on existing records without any new material and was issued beyond the permissible period. As the petitioner had disclosed all necessary information during scrutiny and there was no failure to disclose material facts, the court held that the notice to reopen the assessment lacked legal authority. The court allowed the petition, quashed the notice, and made the rule absolute with no costs. Case-Laws Income Tax Mon, 10 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375369