https://www.taxtmi.com/caselaws?id=234750 The Court quashed the notice of reopening dated 18 May 2012 under Section 148 of the Income Tax Act, 1961. It held that the reopening lacked the necessary jurisdictional requirement as it was based on a future contingency rather than a present reason to believe income had escaped assessment. The Court emphasized that protective assessments must adhere to statutory requirements and cannot rely on hypothetical future events. Additionally, the Petitioner was deemed to have the standing to challenge the notice due to being directly affected by it. en-us Fri, 14 Jun 2013 00:00:00 +0530 Tue, 28 Jul 2026 10:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234750 The Court quashed the notice of reopening dated 18 May 2012 under Section 148 of the Income Tax Act, 1961. It held that the reopening lacked the necessary jurisdictional requirement as it was based on a future contingency rather than a present reason to believe income had escaped assessment. The Court emphasized that protective assessments must adhere to statutory requirements and cannot rely on hypothetical future events. Additionally, the Petitioner was deemed to have the standing to challenge the notice due to being directly affected by it. Case-Laws Income Tax Fri, 14 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234750