https://www.taxtmi.com/caselaws?id=216079 The SC held that reopening the assessment under section 147 was not maintainable where the assessee had fully disclosed details of its stock dealings and the loss was a business loss, not speculative. The decision aligned with the assessee's earlier favorable ruling in ICICI Securities Ltd. v. Asstt. CIT, affirming that no valid reason existed for reassessment. en-us Wed, 22 Aug 2012 00:00:00 +0530 Wed, 13 Aug 2025 16:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216079 The SC held that reopening the assessment under section 147 was not maintainable where the assessee had fully disclosed details of its stock dealings and the loss was a business loss, not speculative. The decision aligned with the assessee's earlier favorable ruling in ICICI Securities Ltd. v. Asstt. CIT, affirming that no valid reason existed for reassessment. Case-Laws Income Tax Wed, 22 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216079