{"id":35266,"date":"2023-08-01T16:52:55","date_gmt":"2023-08-01T11:22:55","guid":{"rendered":"https:\/\/itatonline.org\/digest\/kandoi-fabrics-p-ltd-v-acit-2023-149-taxmann-com-457-293-taxman-202-bomhc\/"},"modified":"2023-08-01T16:52:55","modified_gmt":"2023-08-01T11:22:55","slug":"kandoi-fabrics-p-ltd-v-acit-2023-149-taxmann-com-457-293-taxman-202-bomhc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/kandoi-fabrics-p-ltd-v-acit-2023-149-taxmann-com-457-293-taxman-202-bomhc\/","title":{"rendered":"Kandoi Fabrics (P.) Ltd. v. ACIT [2023] 149 taxmann.com 457 \/ 293 Taxman 202 (Bom)(HC)"},"content":{"rendered":"<p>Allowing the petition, the Court held that issue with regard to source of Rs. 75 lacs was explained as redemption of preference shares and same was considered at the time of scrutiny assessment under section 143(3), reassessment proceedings on said issue would be nothing but a change of opinion, and, therefore, without jurisdiction. Reassessment notice and order disposing the objection was quashed. (AY. 2012-13)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 147 :  Reassessment\u2013After the expiry of four years \u2013 Cash credits \u2013 Redemption of preference shares &#8211; Source explained in the original assessment proceedings- Change of opinion \u2013 Reassessment notice and order disposing the objection was quashed. [S. 68, 143(3), 148, Art, 226] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-35266","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-9aO","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/35266","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=35266"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/35266\/revisions"}],"predecessor-version":[{"id":35267,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/35266\/revisions\/35267"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=35266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=35266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=35266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}