https://www.taxtmi.com/caselaws?id=325788 The High Court allowed the writ petitions, setting aside the notices issued under Section 148 of the Income Tax Act and the orders rejecting objections by the Assessees. The Court emphasized the importance of credible material for re-assessment, noting the need for a close nexus between the material and the reason to believe income had escaped assessment. The Court criticized the Assessing Officer for not adequately considering the objections raised, highlighting the procedural safeguards against arbitrary re-assessment. en-us Wed, 16 Mar 2016 00:00:00 +0530 Tue, 01 Aug 2017 10:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325788 The High Court allowed the writ petitions, setting aside the notices issued under Section 148 of the Income Tax Act and the orders rejecting objections by the Assessees. The Court emphasized the importance of credible material for re-assessment, noting the need for a close nexus between the material and the reason to believe income had escaped assessment. The Court criticized the Assessing Officer for not adequately considering the objections raised, highlighting the procedural safeguards against arbitrary re-assessment. Case-Laws Income Tax Wed, 16 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325788