https://www.taxtmi.com/caselaws?id=63834 The appeal by the revenue was dismissed, with the majority opinion concluding that the reopening of the assessment was invalid. The reassessment was declared void ab initio, and the assessment order dated 30-3-2000 was annulled. The notice issued under section 148 was deemed unjustified, as the Assessing Officer lacked a legitimate "reason to believe" that income had escaped assessment, acting instead on vague suspicions. The Third Member's agreement with the CIT(A) and JM reinforced that the reopening was not based on new facts or evidence, rendering the actions arbitrary and unlawful. en-us Mon, 29 May 2006 00:00:00 +0530 Fri, 15 Mar 2024 11:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63834 The appeal by the revenue was dismissed, with the majority opinion concluding that the reopening of the assessment was invalid. The reassessment was declared void ab initio, and the assessment order dated 30-3-2000 was annulled. The notice issued under section 148 was deemed unjustified, as the Assessing Officer lacked a legitimate "reason to believe" that income had escaped assessment, acting instead on vague suspicions. The Third Member's agreement with the CIT(A) and JM reinforced that the reopening was not based on new facts or evidence, rendering the actions arbitrary and unlawful. Case-Laws Income Tax Mon, 29 May 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63834