https://www.taxtmi.com/caselaws?id=763598 The Madras HC dismissed writ petitions challenging notices issued under Section 148 of the Income Tax Act, 1961 for reopening assessment. The court found sufficient reasons existed for reopening assessment proceedings against a company purchasing shares, which was petitioner's subsidiary. The petitioner failed to cooperate by not furnishing required information to the department. The court held the department was empowered to pass assessment orders using best judgment method under Section 144 due to petitioner's non-cooperation. The respondents were directed to complete assessment within three months. en-us Thu, 19 Dec 2024 00:00:00 +0530 Fri, 20 Dec 2024 17:07:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763598 The Madras HC dismissed writ petitions challenging notices issued under Section 148 of the Income Tax Act, 1961 for reopening assessment. The court found sufficient reasons existed for reopening assessment proceedings against a company purchasing shares, which was petitioner's subsidiary. The petitioner failed to cooperate by not furnishing required information to the department. The court held the department was empowered to pass assessment orders using best judgment method under Section 144 due to petitioner's non-cooperation. The respondents were directed to complete assessment within three months. Case-Laws Income Tax Thu, 19 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763598