https://www.taxtmi.com/article/detailed?id=1058 Section 147 now permits reassessment when the Assessing Officer has a reason to believe that income has escaped assessment. That belief must be honest, reasonable and based on material and relevant grounds with a live nexus to escapement; mere suspicion or irrelevant factors are insufficient. Courts may verify existence of relevant materials before the officer but not the sufficiency of reasons, and the Assessing Officer cannot cure defects by post hoc supplementation of reasons. en-us Wed, 15 Dec 2010 22:05:17 +0530 Wed, 15 Dec 2010 22:05:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1058 Section 147 now permits reassessment when the Assessing Officer has a reason to believe that income has escaped assessment. That belief must be honest, reasonable and based on material and relevant grounds with a live nexus to escapement; mere suspicion or irrelevant factors are insufficient. Courts may verify existence of relevant materials before the officer but not the sufficiency of reasons, and the Assessing Officer cannot cure defects by post hoc supplementation of reasons. Articles Income Tax Wed, 15 Dec 2010 22:05:17 +0530 https://www.taxtmi.com/article/detailed?id=1058