https://www.taxtmi.com/caselaws?id=234426 The court upheld the decision to dismiss the writ petition challenging the reopening of the assessment for the year 2006-07 under section 148 of the Income-tax Act. It found the Assessing Officer's reasoning valid, based on the similarity of transactions by the assessee in both the current and earlier years, indicating a pattern of non-transparent pricing. The court emphasized that the opinion of income escapement was formed on a pre-existing basis, rejecting the appellant's arguments and emphasizing the importance of the Assessing Officer's opinion in such matters. en-us Mon, 07 Jan 2013 00:00:00 +0530 Tue, 02 Jul 2013 12:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234426 The court upheld the decision to dismiss the writ petition challenging the reopening of the assessment for the year 2006-07 under section 148 of the Income-tax Act. It found the Assessing Officer's reasoning valid, based on the similarity of transactions by the assessee in both the current and earlier years, indicating a pattern of non-transparent pricing. The court emphasized that the opinion of income escapement was formed on a pre-existing basis, rejecting the appellant's arguments and emphasizing the importance of the Assessing Officer's opinion in such matters. Case-Laws Income Tax Mon, 07 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234426