Reassessment u/s. 148 quashed as all necessary information already supplied: Gujarat HC

Adani Wilmar Limited Vs ACIT (Gujarat High Court) Gujarat High Court held that reassessment under section 148 of the Income Tax Act is liable to be quashed in as much as all the necessary information were supplied by the assessee and there was no failure to disclose any material fact. Accordingly, reopening quashed. Facts- The petitioner is a limited company and is one of the importers and refiners of edible oil in India. The case of the petitioner was selected for scrutiny and the assessment order u/s. 143(3) of the Act was passed. Respondent thereafter issued the impugned notice under sectio...