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BHARGAV D. KARIA, NIRAL R. MEHTA
Adeshwara Cement Co. Pvt. Ltd. Through Director Kushal Mohit Shah – Appellant
Versus
Asst. Commissioner of income tax, Circle 1(1)(1), Or His Successor – Respondent
ORDER :
(PER : HONOURABLE MR. JUSTICE BHARGAV D. KARIA)
1. Heard learned advocate Mr.S.N.Divatia for the petitioner and learned Senior Standing Counsel Mr.Varun K.Patel for the respondent no.1.
2. Rule returnable forthwith. Learned Senior Standing Counsel Mr.Varun K.Patel waives service of notice of rule on behalf of respondent no.1.
3. By this petition under Article 226 of the Constitution of India the petitioner has prayed for the following reliefs:
(b) to call for the records of the proceedings, look into them and be pleased to issue a writ of certiorari or any other appropriate writ, order or direction quashing the impugned notice as well as the order of objection dt. 10.11.2021 (Annex.-B).
(c) Pending the hearing and final disposal of this petiti
Reassessment under the Income Tax Act requires tangible evidence of income escaping assessment; mere suspicion is insufficient.
The reopening of an assessment under the Income Tax Act requires the Assessing Officer to provide specific reasons linking alleged income escapement to the taxpayer's records, which must not solely r....
The court held that an Assessing Officer must form an independent opinion based on material on record before reopening an assessment, and cannot solely rely on external information.
Reopening of assessment under the Income Tax Act requires new material evidence; reliance on previously considered information is insufficient.
Point of law: It is no doubt true that the Court cannot go into the sufficiency or adequacy of the material and substitute its own opinion for that of the Income Tax Officer on the point as to whethe....
Reopening of assessment beyond four years without fresh tangible material or proper disposal of objections is illegal under the Income Tax Act.
The main legal point established is that the Assessing Officer's belief for the reassessment of income under section 148 of the Income Tax Act is based on subjective satisfaction and the existence of....
Reopening of assessment under the Income Tax Act requires tangible material; mere change of opinion is insufficient for reassessment.
Assessing Officer having arrived at his subjective satisfaction based on additional fresh material placed before him that the petitioner had not fully and truly disclosed all the material facts neces....
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