HC Quashes Reassessment Proceedings: No Evidence of Escaped or Taxable Income Found

Mahatma Gobarji Seva Sansthan ILOL Vs ITO (Gujarat High Court) The Gujarat High Court addressed a petition filed by Mahatma Gobarji Seva Sansthan ILOL, challenging the reopening of its income tax assessment for the assessment year 2019-2020. The petitioner, a public charitable trust, argued that the reopening was invalid due to the absence of any genuine information indicating escaped income. The Income Tax Officer (ITO) had initially issued a notice under Section 148A(a) of the Income Tax Act, 1961, based on information suggesting large cash deposits by the trust. However, the trust clarified...