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Bombay HC Quashes Section 148 Notice for Escaped Income Below ₹50 Lakh
Case Law Details
- Case Name
- Naresh Balchandrarao Shinde Vs ITO (Bombay High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Bombay High Court
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Naresh Balchandrarao Shinde Vs ITO (Bombay High Court)
The Bombay High Court heard a writ petition challenging an order passed under Section 148A(d) of the Income-tax Act, 1961 and the consequential notice issued under Section 148 for Assessment Year 2015-16. The petitioner was issued a notice under Section 148A(b) alleging that income had escaped assessment based on the purchase of an immovable property worth ₹40 lakh and cash deposits of ₹20,71,500 and ₹16,20,000. In response, the petitioner submitted that the property had been purchased by his daughter through a registered sale deed d...
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