Reassessment Notice | TAX INDIAS

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The Gujarat High Court quashed reassessment proceedings initiated under Sections 148 and 148A where the assessee had fully disclosed a loan transaction and duly offered interest income to tax.The Court held that mere suspicion, third-party non-cooperation, or investigation inputs cannot justify reopening when material facts are already on record.

The Gujarat High Court quashed reassessment proceedings initiated under Sections 148 and 148A where the assessee had fully disclosed a loan transaction and duly offered interest income to tax.The Court held that mere suspicion, third-party non-cooperation, or investigation inputs cannot justify reopening when material facts are already on record.

🚨 Reassessment Cannot Be Based on Suspicion Alone

What is disclosed and taxed cannot be treated as “income escaping assessment”.

Dec 26, 20253 min read

Gujarat High Court Invalidates Time-Barred Section 148 Notice

Gujarat High Court Invalidates Time-Barred Section 148 Notice

Gujarat High Court Invalidates Time-Barred Section 148 Notice

Gujarat High Court Invalidates Time-Barred Section 148 Notice

Dec 12, 20252 min read

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