No New Tangible Material available on record to Prove Escapement of Income: Bombay HC quashes Re -Opening of Assessment [Read Order]

Tangible Material - Prove Escapement of Income - Bombay Highcourt - Re -Opening of Assessment - Assessment - taxscan

The Bombay High Court quashed the re-opening of assessment on the ground that no new tangible material available on record to prove escapement of income. The writ petition under Article 226 of the Constitution of India challenged the notice under section 148 of the Income-tax Act, 1961, issued by the Assistant Commissioner of Income Tax…

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