Tangible information on client code modification justifies income tax re-assessment

Rakesh Gupta Vs CIT (Panjab Haryana high court) Punjab and Haryana High Court has affirmed the validity of income tax re-assessment proceedings initiated against Rakesh Gupta, an assessee, for the assessment year 2009-10. The case, Rakesh Gupta Vs CIT, centered on the challenge to a re-assessment notice issued under Section 148 of the Income Tax Act, 1961, and the subsequent order rejecting the assessee’s objections. Mr. Gupta had filed his income tax return for the relevant year declaring a ‘Nil’ income, which was processed under Section 143(1) of the Act, resulting in a dee...