https://www.taxtmi.com/caselaws?id=256640 The court allowed the writ petitions, quashing the notices under section 147/148 of the Income-tax Act and annulling the reassessment orders. It held that the reasons for reopening assessment were vague and lacked a rational nexus to the belief that income had escaped assessment. The court found the reassessment was based on a mere change of opinion, not meeting the statutory requirement of "reason to believe." Additionally, it determined that the availability of alternative statutory remedies did not preclude invoking writ jurisdiction under Article 226 of the Constitution in this instance. en-us Fri, 11 Apr 2014 00:00:00 +0530 Tue, 17 Feb 2015 22:55:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256640 The court allowed the writ petitions, quashing the notices under section 147/148 of the Income-tax Act and annulling the reassessment orders. It held that the reasons for reopening assessment were vague and lacked a rational nexus to the belief that income had escaped assessment. The court found the reassessment was based on a mere change of opinion, not meeting the statutory requirement of "reason to believe." Additionally, it determined that the availability of alternative statutory remedies did not preclude invoking writ jurisdiction under Article 226 of the Constitution in this instance. Case-Laws Income Tax Fri, 11 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256640