Assessment years Archives

Mere change in tax rate for future AYs, no ground to reopen assessment without fulfilling jurisdictional parameters under S. 148 of Income Tax Act: Bombay HC

The jurisdictional parameter about failure to disclose fully and truly all material facts necessary for assessment are missing and without compliance with the said parameters, the respondents have no jurisdiction to proceed with the reopening of the assessment.

Case Briefs High Courts

‘Discovery of material impacting assessment of total income not intended to set off a chain reaction’: Delhi HC quashes notices issued u/s Section 153C of the IT Act, 1961

“It is only once the Assessing Officer of the non-searched entity is satisfied that the material coming into its possession is likely to “have a bearing on the determination of the total income” that a notice under Section 153C would be issued.”