https://www.taxtmi.com/caselaws?id=226222 The court dismissed the writ petition challenging reassessment proceedings under Section 147 of the Income Tax Act, 1961. It held that the reassessment was not based on a mere change of opinion but on valid grounds involving the application of statutory provisions. The court found that the Assessing Officer had the jurisdiction to issue the reassessment notice, as the reasons provided had a live link with the belief that income had escaped assessment. The petitioner was allowed to raise relevant pleas during the reassessment proceedings, and the show cause notice was not quashed. en-us Tue, 02 Apr 2013 00:00:00 +0530 Mon, 22 Apr 2013 08:11:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=226222 The court dismissed the writ petition challenging reassessment proceedings under Section 147 of the Income Tax Act, 1961. It held that the reassessment was not based on a mere change of opinion but on valid grounds involving the application of statutory provisions. The court found that the Assessing Officer had the jurisdiction to issue the reassessment notice, as the reasons provided had a live link with the belief that income had escaped assessment. The petitioner was allowed to raise relevant pleas during the reassessment proceedings, and the show cause notice was not quashed. Case-Laws Income Tax Tue, 02 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=226222