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Bombay HC Quashes Section 148 Reassessment for Ignoring Registered Sale Deed
Case Law Details
- Case Name
- Naresh Balchandrarao Shinde Vs ITO (Bombay High Court - Nagpur Bench)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All High Courts, Bombay High Court
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Naresh Balchandrarao Shinde Vs ITO (Bombay High Court – Nagpur Bench)
The Bombay High Court allowed the writ petition challenging the order dated 31.03.2022 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, an individual assessee, was issued a notice under Section 148A(b) on 23.03.2022 alleging that income chargeable to tax had escaped assessment. The notice referred to three transactions: purchase of immovable property worth ₹40,00,000, cash deposits of ₹20,71,5...
