https://www.taxtmi.com/caselaws?id=22742 The High Court quashed the notice issued under section 148 of the Income-tax Act for the assessment year 1980-81, ruling in favor of the limited company petitioner. The court found that the reasons provided for reopening the assessment, particularly related to depreciation, were not sufficiently supported by the assessment records. It was determined that the conditions for reopening the assessment under section 147(b) were not met, leading to the court's decision to quash the notice without imposing any costs on the petitioner. en-us Fri, 16 Mar 1990 00:00:00 +0530 Sat, 12 Dec 2009 16:04:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22742 The High Court quashed the notice issued under section 148 of the Income-tax Act for the assessment year 1980-81, ruling in favor of the limited company petitioner. The court found that the reasons provided for reopening the assessment, particularly related to depreciation, were not sufficiently supported by the assessment records. It was determined that the conditions for reopening the assessment under section 147(b) were not met, leading to the court's decision to quash the notice without imposing any costs on the petitioner. Case-Laws Income Tax Fri, 16 Mar 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22742