Select Design
You can update Firmname, Logo, Profession, Mobile, Email, Address from Profile.
Reassessment Quashed: No Justification for Reopening U/S 148 Without New Material
Assistant Commissioner of Income-tax v. BSIFS P. Ltd.
31-01-2025
SPECIAL LEAVE PETITION (CIVIL) Diary No. 59843 of 2024
Practiceguru Sample Posters - Pl Subscribe
Facts:
BSIFS P. Ltd., engaged in share trading, filed a return declaring a business loss, which was assessed u/s 143(3) for AY 2013-14.
After four years, the AO issued a reopening notice u/s 148, stating the loss should be classified as speculation loss under Explanation to Section 73.
The HC quashed the notice, ruling that Section 73 had already been considered during the original assessment and there was no failure of disclosure by the assessee.
Decision: The SC dismissed the SLP filed by the Income Tax Department. It upheld the HCs decision, confirming that the reopening notice u/s 148 was invalid. The Court found no reason to interfere and disposed of all pending applications.
Decision: The SC dismissed the SLP filed by the Income Tax Department. It upheld the HCs decision, confirming that the reopening notice u/s 148 was invalid. The Court found no reason to interfere and disposed of all pending applications.
Practiceguru Sample Posters - Pl Subscribe
Reassessment Quashed: No Justification for Reopening U/S 148 Without New Material
Assistant Commissioner of Income-tax v. BSIFS P. Ltd.
31-01-2025
SPECIAL LEAVE PETITION (CIVIL) Diary No. 59843 of 2024
Practiceguru Sample Posters - Pl Subscribe
Facts:
BSIFS P. Ltd., engaged in share trading, filed a return declaring a business loss, which was assessed u/s 143(3) for AY 2013-14.
After four years, the AO issued a reopening notice u/s 148, stating the loss should be classified as speculation loss under Explanation to Section 73.
The HC quashed the notice, ruling that Section 73 had already been considered during the original assessment and there was no failure of disclosure by the assessee.
Decision: The SC dismissed the SLP filed by the Income Tax Department. It upheld the HCs decision, confirming that the reopening notice u/s 148 was invalid. The Court found no reason to interfere and disposed of all pending applications.
Decision: The SC dismissed the SLP filed by the Income Tax Department. It upheld the HCs decision, confirming that the reopening notice u/s 148 was invalid. The Court found no reason to interfere and disposed of all pending applications.
Practiceguru Sample Posters - Pl Subscribe
Sample Reassessment Quashed: No Justification for Reopening U/S 148 Without New Material
Assistant Commissioner of Income-tax v. BSIFS P. Ltd.
31-01-2025
SPECIAL LEAVE PETITION (CIVIL) Diary No. 59843 of 2024
Practiceguru Sample Posters - Pl Subscribe
Facts:
BSIFS P. Ltd., engaged in share trading, filed a return declaring a business loss, which was assessed u/s 143(3) for AY 2013-14.
After four years, the AO issued a reopening notice u/s 148, stating the loss should be classified as speculation loss under Explanation to Section 73.
The HC quashed the notice, ruling that Section 73 had already been considered during the original assessment and there was no failure of disclosure by the assessee.
Decision: The SC dismissed the SLP filed by the Income Tax Department. It upheld the HCs decision, confirming that the reopening notice u/s 148 was invalid. The Court found no reason to interfere and disposed of all pending applications.
Decision: The SC dismissed the SLP filed by the Income Tax Department. It upheld the HCs decision, confirming that the reopening notice u/s 148 was invalid. The Court found no reason to interfere and disposed of all pending applications.
Practiceguru Sample Posters - Pl Subscribe
Sample Reassessment Quashed: No Justification for Reopening U/S 148 Without New Material
Assistant Commissioner of Income-tax v. BSIFS P. Ltd.
31-01-2025
SPECIAL LEAVE PETITION (CIVIL) Diary No. 59843 of 2024
Practiceguru Sample Posters - Pl Subscribe
Facts:
BSIFS P. Ltd., engaged in share trading, filed a return declaring a business loss, which was assessed u/s 143(3) for AY 2013-14.
After four years, the AO issued a reopening notice u/s 148, stating the loss should be classified as speculation loss under Explanation to Section 73.
The HC quashed the notice, ruling that Section 73 had already been considered during the original assessment and there was no failure of disclosure by the assessee.
Decision: The SC dismissed the SLP filed by the Income Tax Department. It upheld the HCs decision, confirming that the reopening notice u/s 148 was invalid. The Court found no reason to interfere and disposed of all pending applications.
Decision: The SC dismissed the SLP filed by the Income Tax Department. It upheld the HCs decision, confirming that the reopening notice u/s 148 was invalid. The Court found no reason to interfere and disposed of all pending applications.
Practiceguru Sample Posters - Pl Subscribe
Sample Reassessment Quashed: No Justification for Reopening U/S 148 Without New Material
Assistant Commissioner of Income-tax v. BSIFS P. Ltd.
31-01-2025
SPECIAL LEAVE PETITION (CIVIL) Diary No. 59843 of 2024
Practiceguru Sample Posters - Pl Subscribe
Facts:
BSIFS P. Ltd., engaged in share trading, filed a return declaring a business loss, which was assessed u/s 143(3) for AY 2013-14.
After four years, the AO issued a reopening notice u/s 148, stating the loss should be classified as speculation loss under Explanation to Section 73.
The HC quashed the notice, ruling that Section 73 had already been considered during the original assessment and there was no failure of disclosure by the assessee.
Decision: The SC dismissed the SLP filed by the Income Tax Department. It upheld the HCs decision, confirming that the reopening notice u/s 148 was invalid. The Court found no reason to interfere and disposed of all pending applications.
Decision: The SC dismissed the SLP filed by the Income Tax Department. It upheld the HCs decision, confirming that the reopening notice u/s 148 was invalid. The Court found no reason to interfere and disposed of all pending applications.
Practiceguru Sample Posters - Pl Subscribe
Sample Reassessment Quashed: No Justification for Reopening U/S 148 Without New Material
Assistant Commissioner of Income-tax v. BSIFS P. Ltd.
31-01-2025
SPECIAL LEAVE PETITION (CIVIL) Diary No. 59843 of 2024
Practiceguru Sample Posters - Pl Subscribe
Facts:
BSIFS P. Ltd., engaged in share trading, filed a return declaring a business loss, which was assessed u/s 143(3) for AY 2013-14.
After four years, the AO issued a reopening notice u/s 148, stating the loss should be classified as speculation loss under Explanation to Section 73.
The HC quashed the notice, ruling that Section 73 had already been considered during the original assessment and there was no failure of disclosure by the assessee.
Decision: The SC dismissed the SLP filed by the Income Tax Department. It upheld the HCs decision, confirming that the reopening notice u/s 148 was invalid. The Court found no reason to interfere and disposed of all pending applications.
Decision: The SC dismissed the SLP filed by the Income Tax Department. It upheld the HCs decision, confirming that the reopening notice u/s 148 was invalid. The Court found no reason to interfere and disposed of all pending applications.
Practiceguru Sample Posters - Pl Subscribe
Sample 