https://www.taxtmi.com/caselaws?id=215201 The court held that the Assessing Officer lacked the legal authority to reopen assessments for assessment years 2002-03 and 2003-04 under section 147 of the Income Tax Act. The court found that there was no evidence of the petitioner's failure to disclose material facts leading to the alleged escapement of taxable income. Consequently, the court allowed the petitions, quashing the notices dated 12.09.2008 for both years, and made the rule absolute with no order as to costs. en-us Mon, 02 Jul 2012 00:00:00 +0530 Thu, 26 Jul 2012 18:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215201 The court held that the Assessing Officer lacked the legal authority to reopen assessments for assessment years 2002-03 and 2003-04 under section 147 of the Income Tax Act. The court found that there was no evidence of the petitioner's failure to disclose material facts leading to the alleged escapement of taxable income. Consequently, the court allowed the petitions, quashing the notices dated 12.09.2008 for both years, and made the rule absolute with no order as to costs. Case-Laws Income Tax Mon, 02 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215201