https://www.taxtmi.com/caselaws?id=212422 The High Court held that the notice seeking to reopen the assessment beyond the prescribed period was impermissible as there was no evidence of income escaping assessment due to failure to disclose material facts. The court emphasized the necessity of a valid belief by the Assessing Officer for reopening assessments and ruled that the reasons provided did not meet this requirement. Consequently, the court quashed the notice for reassessment, citing jurisdictional deficiencies and making the rule absolute. en-us Mon, 28 Nov 2011 00:00:00 +0530 Sun, 15 Apr 2012 18:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212422 The High Court held that the notice seeking to reopen the assessment beyond the prescribed period was impermissible as there was no evidence of income escaping assessment due to failure to disclose material facts. The court emphasized the necessity of a valid belief by the Assessing Officer for reopening assessments and ruled that the reasons provided did not meet this requirement. Consequently, the court quashed the notice for reassessment, citing jurisdictional deficiencies and making the rule absolute. Case-Laws Income Tax Mon, 28 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212422