Assessee an individual derived income from different sources including share in partnership firm Assessment was completed u/s 143(3) of the Act.. The assessment was reopened. On writ, the Court held that notice proposing to reopen completed assessment is quashed and set aside. (AY. 2012-13)
Jagdishkumar Vitthalbhai Patel v. ITO (2023) 471 ITR 216 /151 taxmann.com 121 (Guj) (HC)
S.147: Reassessment-After the expiry of four years-Capital gains-Co-owner-No failure to disclose material facts-Reassessment notice and order disposing the objection is quashed. [S. 45(3) 50C, 148, Art. 226]
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