Bombay HC Quashes Reassessment Order against Wife as Husband Bought Property

Kalpita Arun Lanjekar Vs ITO (Bombay High Court)  In a recent case before the Bombay High Court, the legality of an income tax reassessment against a housewife, Kalpita Arun Lanjekar, came under scrutiny. The crux of the matter lies in a notice received by Kalpita Arun Lanjekar from the Income Tax Officer, Ward-28(2)(1), under Section 148A(b) of the Income Tax Act, 1961. The notice alleged that income chargeable to tax for the Assessment Year 2016­2017 had escaped assessment due to high-value transactions, particularly the purchase of immovable property valued at Rs. 30,00,000 or more. Despi...