https://www.taxtmi.com/caselaws?id=262805 The court quashed the notice issued under Section 148 of the Income Tax Act and the reassessment order for the relevant assessment year. The court found that the reopening of the assessment solely based on audit objections without independent formation of opinion by the Assessing Officer was invalid. The court referred to relevant case law to support its decision and emphasized the necessity of an independent belief by the Assessing Officer for reassessment proceedings. The court exercised its powers under Article 226 of the Constitution of India and made the rule absolute with no order as to costs. en-us Wed, 06 May 2015 00:00:00 +0530 Sat, 05 Mar 2016 16:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262805 The court quashed the notice issued under Section 148 of the Income Tax Act and the reassessment order for the relevant assessment year. The court found that the reopening of the assessment solely based on audit objections without independent formation of opinion by the Assessing Officer was invalid. The court referred to relevant case law to support its decision and emphasized the necessity of an independent belief by the Assessing Officer for reassessment proceedings. The court exercised its powers under Article 226 of the Constitution of India and made the rule absolute with no order as to costs. Case-Laws Income Tax Wed, 06 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262805