Reassessment to disallow Directors fees not valid if rationale already been explained during Assessment

HIGH COURT OF BOMBAY OHM Stock Brokers (P.) Ltd. versus Commissioner of Income-tax-4, Mumbai WRIT PETITION NOS.79 TO 82 OF 2013 FEBRUARY  20, 2013 JUDGMENT Dr. D.Y. Chandrachud, J. Rule. Counsel for the Respondents waive service. By consent, the Rule is made returnable forthwith. The writ petitions are taken-up for hearing and final disposal, by consent and on the request of learned counsel. 2. This judgment will govern four petitions under Article 226 of the Constitution where the assessee has challenged notices for reopening of assessments for Assessment Years 2005-06, 20...