https://www.taxtmi.com/caselaws?id=258953 The court quashed and set aside the reassessment proceedings and notice issued under Section 148 of the Income Tax Act for AY 2009-10. The court found that the conditions for reopening the assessment under Section 147 were not met as the reasons provided were for verification purposes rather than establishing a belief of income escapement. Procedural lapses in communicating the reasons further weakened the validity of the reassessment notice. Consequently, the petition was allowed, and no costs were awarded. en-us Wed, 01 Apr 2015 00:00:00 +0530 Sat, 25 Apr 2015 06:32:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258953 The court quashed and set aside the reassessment proceedings and notice issued under Section 148 of the Income Tax Act for AY 2009-10. The court found that the conditions for reopening the assessment under Section 147 were not met as the reasons provided were for verification purposes rather than establishing a belief of income escapement. Procedural lapses in communicating the reasons further weakened the validity of the reassessment notice. Consequently, the petition was allowed, and no costs were awarded. Case-Laws Income Tax Wed, 01 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258953