KARNATAKA BANK LTD vs. THE ASSISTANT COMMISSIONER OF INCOME -TAX
Accordingly, the petition is allowed in
WP/40511/2015HC Karnataka11 Jan 2016
Bench: The Hon’Ble Mr. Justice Anand Byrareddy
Section 147Section 148Section 56Section 57Section 80P(2)(a)
reassessment
proceedings having been initiated on a mere change of
opinion, according to the learned Senior Advocate, was not
permissible under Section 147 of the Act. All the details
regarding investment portfolio of the petitioner for the year
in question, including the annual report of the petitioner
for the year ended 31.03.2010, necessary for one to have to
come