https://www.taxtmi.com/caselaws?id=38252 The High Court of Calcutta, in a case concerning the validity of a notice issued under section 148 of the Income-tax Act for the assessment year 1968-69, ruled in favor of the petitioners, trustees of a public charitable trust. The court held that since the income of the trust was exempt from tax, there was no escapement of income justifying the reopening of the assessment. Citing relevant case laws, the court concluded that the notice was without jurisdiction and could not be sustained. The ruling allowed for potential action against the private trust but granted a stay and made no order as to costs. en-us Fri, 17 Mar 1978 00:00:00 +0530 Mon, 05 Apr 2010 11:50:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38252 The High Court of Calcutta, in a case concerning the validity of a notice issued under section 148 of the Income-tax Act for the assessment year 1968-69, ruled in favor of the petitioners, trustees of a public charitable trust. The court held that since the income of the trust was exempt from tax, there was no escapement of income justifying the reopening of the assessment. Citing relevant case laws, the court concluded that the notice was without jurisdiction and could not be sustained. The ruling allowed for potential action against the private trust but granted a stay and made no order as to costs. Case-Laws Income Tax Fri, 17 Mar 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38252