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Reassessment Quashed: No Valid ‘Reason to Believe’ Despite Insight Portal Data – Gujarat HC
Case Law Details
- Case Name
- O3 Developers Private Limited Vs ITO (Gujarat High Court)
- Appeal Number
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- Courts
- All High Courts, Gujarat High Court
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O3 Developers Private Limited Vs ITO (Gujarat High Court)
Reopening Invalid Where Alleged Accommodation Entries Lack Transactional Details; Section 148 Notice Set Aside for Fishing Inquiry Based on General Allegations; Reassessment Fails Where Portal Information Has No Live Nexus With Books of Account; Change of Name Not Enough, But Reopening Still Invalid Without Concrete Material
The petitioner challenged a notice dated 31.03.2021 issued under section 148 of the Income Tax Act, 1961 for reopening the assessment for Assessment Year (AY) 2017–18. The challenge was brought before the Gujar...
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