Original assessment completed after considering all facts hence re-assessment unsustainable

Noshir Darabshaw Talati Vs ACIT (Bombay High Court)

Bombay High Court held that reassessment proceedings u/s. 148 of the Income Tax Act is liable to be quashed and set aside as original assessment was completed after considering all the facts and material.

Facts- The present petition challenges the impugned notice under Section 148 of the Income Tax Act (“the Act”) dated 31st March 2021 on the ground that the respondent no. 1 had reasons to believe that income chargeab

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