Appeal Approved: Court Quashes 2017-18 Assessment Order Due to Lack of Substantial Evidence by Assessing Officer.

The court allowed the appeal and quashed the order passed under Section 148A(d) of the Act for the assessment year 2017-18, along with the consequential notice under Section 148. The court found that the assessing officer failed to provide tangible material to support the claim of income escapement, relying instead on personal opinions. The decision emphasizes the necessity of substantial evidence when reopening assessments under Section 148A.

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Issues involved:
The judgment involves challenging an order passed under Section 148A(d) of the Act for the assessment year 2017-18.

Details of the judgment:

1. The appellant challenged the order passed under Section 148A(d) of the Act for the assessment year 2017-18, which was dismissed by the learned Single Bench. The appellant appealed against this decision, arguing that all issues should have been considered in the re-assessment proceedings.

2. The assessing officer sought to reopen the assessment for the year 2016-17, which was challenged in a previous case. For the assessment year 2017-18, the assessee received a notice under Section 148A(b) regarding cash deposits, interest receipts, and debenture purchases. The assessee responded, stating there was no evidence of income escapement. Despite this, an order was passed under Section 148A(d) of the Act, which was challenged in the current writ petition.

3. The court found that there were glaring omissions in the order, such as the absence of material showing income escapement. The assessing officer's personal opinions were not sufficient for reopening an assessment; tangible material was required to support the claim of income escapement.

4. The court allowed the appeal and the writ petition, quashing the order passed under Section 148A(d) of the Act for the assessment year 2017-18, along with the consequential notice under Section 148 of the Act.

This judgment highlights the importance of tangible evidence and compliance with legal requirements in reopening assessments under Section 148A of the Act.

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