https://www.taxtmi.com/caselaws?id=169930 The Court held in favor of the petitioner, quashing the notice under section 148 of the Income-tax Act for reopening the assessment for the year 2007-08. The Court found that the reasons provided for the reassessment did not meet the legal standard of "reasons to believe" as required by law. It concluded that the Assessing Officer's actions amounted to an abuse of power and were not based on any new material discovered after the original assessment. Therefore, the Court allowed the writ petition in favor of the petitioner, rejecting the demands claimed by the Income-tax Department. en-us Tue, 11 Feb 2014 00:00:00 +0530 Tue, 12 May 2015 11:23:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=169930 The Court held in favor of the petitioner, quashing the notice under section 148 of the Income-tax Act for reopening the assessment for the year 2007-08. The Court found that the reasons provided for the reassessment did not meet the legal standard of "reasons to believe" as required by law. It concluded that the Assessing Officer's actions amounted to an abuse of power and were not based on any new material discovered after the original assessment. Therefore, the Court allowed the writ petition in favor of the petitioner, rejecting the demands claimed by the Income-tax Department. Case-Laws Income Tax Tue, 11 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=169930