https://www.taxtmi.com/caselaws?id=252013 The court held that the reopening of the assessment under Section 148 of the Income Tax Act was invalid as it was solely based on audit objections without the Assessing Officer's independent belief that income had escaped assessment. The notice issued for reopening was quashed, and all related proceedings were annulled. The court emphasized that reopening assessments should be supported by new tangible material, not just to verify audit objections or re-examine previously accepted claims. en-us Tue, 26 Aug 2014 00:00:00 +0530 Wed, 08 Oct 2014 08:14:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252013 The court held that the reopening of the assessment under Section 148 of the Income Tax Act was invalid as it was solely based on audit objections without the Assessing Officer's independent belief that income had escaped assessment. The notice issued for reopening was quashed, and all related proceedings were annulled. The court emphasized that reopening assessments should be supported by new tangible material, not just to verify audit objections or re-examine previously accepted claims. Case-Laws Income Tax Tue, 26 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252013