Gujarat H.C : Assessee having disclosed fact of cancellation of its banking licence in its return, Assessing Officer on basis of this fact could not reopen assessment to assess loss incurred by assessee under head ‘Income from other sources instead of business loss

High Court Of Gujarat Charotar Nagrik Sahakari Bank Ltd. (In Liquidation) vs. DCIT Assessment Year : 2005-06 Section : 147, 28(i) Akil Kureshi And Ms. Sonia Gokani, Jj. Special Civil Application No. 1043 Of 2013 May 7, 2013 ORDER Akil Kureshi, J. – Heard learned counsel for the parties for final disposal of the petition….

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