News Bombay High Court Quashes Income Tax Reassessment Against Bharat Petroleum Corporation Limited for Alleged Wrong Dividend Exemption, Holding No Failure to Disclose Material Facts and Reopening Beyond Limitation is Invalid Under First Proviso to Reassessment Powers RawlawJuly 6, 20255 min read
News Calcutta High Court Stays Income Tax Penalty Orders for Alleged Cash Transaction Violations, Holding “No Penalty Can Be Levied Without Prior Satisfaction of Assessing Officer Recorded in Assessment Orders” While Considering Prima Facie Illegality in Absence of Statutory Compliance RawlawJune 29, 20255 min read
