https://www.taxtmi.com/caselaws?id=267109 The court concluded that the reopening of assessments under Section 148 of the Income Tax Act was invalid. The reasons to believe formed by the Assessing Officer lacked a rational connection with the belief that income had escaped assessment, as required by law. The court emphasized the necessity of tangible material, not mere suspicion, to justify reopening assessments. The appeals were dismissed, affirming the decisions of the Commissioner of Income Tax (Appeals) and the Income Tax Appellate Tribunal. en-us Tue, 20 Oct 2015 00:00:00 +0530 Fri, 30 Oct 2015 06:32:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267109 The court concluded that the reopening of assessments under Section 148 of the Income Tax Act was invalid. The reasons to believe formed by the Assessing Officer lacked a rational connection with the belief that income had escaped assessment, as required by law. The court emphasized the necessity of tangible material, not mere suspicion, to justify reopening assessments. The appeals were dismissed, affirming the decisions of the Commissioner of Income Tax (Appeals) and the Income Tax Appellate Tribunal. Case-Laws Income Tax Tue, 20 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267109