https://www.taxtmi.com/caselaws?id=268125 The court quashed the reopening of assessments for the years 2009-2012 under Section 147 of the Income Tax Act, as the Assessing Officer's belief that income had escaped assessment was not based on material on record but on external information. The court emphasized that the reasons for reopening assessments should clearly demonstrate the basis for the belief, which was lacking in this case. Consequently, the court ruled in favor of the petitioner, quashing the notices issued under Section 148 of the Income Tax Act. en-us Tue, 13 Oct 2015 00:00:00 +0530 Wed, 27 May 2026 18:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268125 The court quashed the reopening of assessments for the years 2009-2012 under Section 147 of the Income Tax Act, as the Assessing Officer's belief that income had escaped assessment was not based on material on record but on external information. The court emphasized that the reasons for reopening assessments should clearly demonstrate the basis for the belief, which was lacking in this case. Consequently, the court ruled in favor of the petitioner, quashing the notices issued under Section 148 of the Income Tax Act. Case-Laws Income Tax Tue, 13 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268125