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Reopening of Assessment Invalid Where Investor Not Linked to Alleged Sham Transactions
Case Law Details
- Case Name
- Karan Maheshwari Vs ACIT (Bombay High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Bombay High Court
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Karan Maheshwari Vs ACIT (Bombay High Court)
Reassessment Quashed for Lack of Nexus Between Investor and Alleged Mutual Fund Irregularities; Section 148A Reopening Set Aside for Non-Disclosure of Material to Taxpayer; Income Tax Reassessment Struck Down for Vague Allegations and Non-Application of Mind; Reassessment Notices Quashed for Using Withheld Evidence Against Taxpayer; No Reassessment Permissible Without Live Link Between Information and Escapement of Income
The Bombay High Court disposed of the writ petition at the admission stage after noting that pleadings were comp...
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