AdvertisementNickunj Eximp Enterprises Pvt. Ltd. Vs ACIT (Bombay High Court) The Bombay High Court considered a writ petition challenging a notice dated 7 December 2010 issued under Section 148 of the Income Tax Act, 1961 for reopening the assessment for Assessment Year 2005-06, along with the order dated 12 June 2012 rejecting the petitioner’s objections. The petitioner had originally filed its return declaring an income of ₹43.05 lakhs, and the assessment was completed under Section 143(3), determining the income at ₹50.36 lakhs. Subsequently, the Assessing Officer reopened the assessment on th...