https://www.taxtmi.com/caselaws?id=251020 The High Court of Bombay upheld the validity of notices issued by the Assessing Officer under Section 148 of the Income Tax Act for reopening assessments for A.Y. 2006-07 and A.Y. 2007-08. The court found the reasons for reopening assessments to be valid, based on suspicions of bogus transactions by the assessee company with certain suppliers. It concluded that the notices contained necessary particulars supporting the belief that income had escaped assessment, and declined to interfere with the reassessment process, leaving all contentions open for further proceedings. en-us Tue, 22 Jul 2014 00:00:00 +0530 Tue, 02 Sep 2014 08:07:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251020 The High Court of Bombay upheld the validity of notices issued by the Assessing Officer under Section 148 of the Income Tax Act for reopening assessments for A.Y. 2006-07 and A.Y. 2007-08. The court found the reasons for reopening assessments to be valid, based on suspicions of bogus transactions by the assessee company with certain suppliers. It concluded that the notices contained necessary particulars supporting the belief that income had escaped assessment, and declined to interfere with the reassessment process, leaving all contentions open for further proceedings. Case-Laws Income Tax Tue, 22 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251020