https://www.taxtmi.com/caselaws?id=237378 HC held reopening under section 148 invalid and ruled for the assessee. The court found the reasons to believe were remote and amounted to mere suspicion, lacking direct or circumstantial material to form a reasonable belief that income escaped assessment. Prior-period expenses were allowable where liability had crystallized in the relevant year; the notes to accounts indicated such crystallization. Because the AO's recorded reasons did not provide a rational basis to suspect non-crystallization, the reassessment was held contrary to law and unsustainable. en-us Fri, 23 Aug 2013 00:00:00 +0530 Mon, 22 Sep 2025 14:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237378 HC held reopening under section 148 invalid and ruled for the assessee. The court found the reasons to believe were remote and amounted to mere suspicion, lacking direct or circumstantial material to form a reasonable belief that income escaped assessment. Prior-period expenses were allowable where liability had crystallized in the relevant year; the notes to accounts indicated such crystallization. Because the AO's recorded reasons did not provide a rational basis to suspect non-crystallization, the reassessment was held contrary to law and unsustainable. Case-Laws Income Tax Fri, 23 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237378