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2013 (7) TMI 617 - GUJARAT HIGH COURTValidity of notice for re-opening of assessment u/s 148 - Held that:- The Assessing Officer's belief that income chargeable to tax during the year under consideration had escaped assessment, lacks validity - In the previous year relevant to the A.Y. 2004-05 nothing had happened which would permit the Department to collect tax on such receipt - because the petitioner changed the nature of treatment for accounting purpose to such subsidy amount received in the year 1995 would not permit the Revenue to examine the taxability of such receipt in the A.Y. 2004-05 – court quashed the notice of the department - appeal decided in favour of assessee.
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