2016 (2) TMI 1240 - HC - Income Tax

Reopening of assessment - notice for reopening on the ground that AO had relied on the show cause notice issued by the Excise department to form a reason to believe that income chargeable to tax had escaped assessment - HELD THAT - Tax Appeals admitted on substantial question of law - Whether the ITAT is justified in law as well as on facts in holding that reopening of the assessment under section 147 and 148 of the Act is bad in law and cannot be sustained and thereby further holding that the reassessment orders are required to be cancelled?

Summary

The Gujarat High Court, with judges Mr. Akil Kureshi and Mr. Mohinder Pal, directed a tax appeal to be posted for final hearing on admission board, with notice for final disposal returnable on 29.2.2016. (Citation: 2016 (2) TMI 1240 - GUJARAT HIGH COURT)