HC quashed reassessment notice u/s 148 against Infosys Ltd.

Infosys limited Vs DCIT (Karnataka High Court) Conclusion: Reopening of assessment on basis of withdrawal of deduction allowed under Section 10A relating to the assessment year 2007-08 was without application of mind and nothing but the change of opinion, which tantamounted to review and the same was not permissible to initiate the proceedings under Section 147/148. Held: Assessee had challenged the proceedings initiated by Department under Section 147 r/w section 148 relating to the assessment years 2004-05, 2005-06 and 2006-07 as Addl. Commissioner by taking clue form the order relating to...