Alleged bogus political donations – Reassessment Notice Challenged

P A Polymer Vs ITO (Gujarat High Court) The reassessment notice issued under Section 148 of the Income Tax Act, 1961, concerning the information of alleged bogus political donations, has been challenged on the grounds of exceeding the limitation period. The High Court has instructed the Assessing Officer (AO) to refrain from passing the assessment order. Analysis- In a recent court hearing, P A Polymer took on the Income Tax Office (ITO) at the Gujarat High Court over a reassessment notice issued under Section 148 of the Income Tax Act, 1961. The crux of the issue centered on the information o...