https://www.taxtmi.com/caselaws?id=258563 The High Court of Bombay held that the reopening proceedings under section 147 of the Income Tax Act for Assessment Year 2010-2011 were invalid as there was no basis or satisfaction for initiating reassessment. The Court emphasized the need for judicious exercise of power to reopen assessments and intervened to quash the proceedings to prevent harassment to the Petitioner. The Writ Petition was allowed in favor of the Petitioner, with no costs imposed. en-us Tue, 31 Mar 2015 00:00:00 +0530 Tue, 11 Aug 2015 12:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258563 The High Court of Bombay held that the reopening proceedings under section 147 of the Income Tax Act for Assessment Year 2010-2011 were invalid as there was no basis or satisfaction for initiating reassessment. The Court emphasized the need for judicious exercise of power to reopen assessments and intervened to quash the proceedings to prevent harassment to the Petitioner. The Writ Petition was allowed in favor of the Petitioner, with no costs imposed. Case-Laws Income Tax Tue, 31 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258563