Section 148 of the Income Tax Act

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Delhi High Court Quashes Income Tax Reassessment Notices, Emphasizing Reassessment Must Be Based on “Reason to Believe” and Not “Reason to Suspect”

Court's Decision:The Delhi High Court allowed the writ petitions filed by Divine Infracon Pvt. Ltd., quashing the reassessment notices issued under Section 148 of the Income Tax Act for Assessment…

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Rawlaw September 10, 2024

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Delhi High Court Quashes Reassessment Notice Under Section 148 of the Income Tax Act, 1961, Alleging Income Escaped Assessment, Cites Failure of Assessing Officer to Independently Form “Reason to Believe”

Court's Decision:The Delhi High Court quashed the reassessment notice issued to Well Trans Logistics India Pvt. Ltd. under Section 148 of the Income Tax Act, 1961, for the Assessment Year…

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Rawlaw September 2, 2024

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