https://www.taxtmi.com/caselaws?id=251864 The court found the notices issued under Section 148 of the Income Tax Act for assessment years 1997-98, 2000-01, and 2001-02 to be invalid. It held that the reasons for reopening assessments lacked fresh material and did not meet the requirement of disclosing all material facts. The court emphasized that the Assessing Officer must have valid "reasons to believe" for reopening assessments, and in this case, the reasons were insufficient. As a result, the notices and proceedings initiated were deemed illegal and without jurisdiction, leading to their quashing. en-us Fri, 26 Sep 2014 00:00:00 +0530 Tue, 30 Sep 2014 09:49:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251864 The court found the notices issued under Section 148 of the Income Tax Act for assessment years 1997-98, 2000-01, and 2001-02 to be invalid. It held that the reasons for reopening assessments lacked fresh material and did not meet the requirement of disclosing all material facts. The court emphasized that the Assessing Officer must have valid "reasons to believe" for reopening assessments, and in this case, the reasons were insufficient. As a result, the notices and proceedings initiated were deemed illegal and without jurisdiction, leading to their quashing. Case-Laws Income Tax Fri, 26 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251864