https://www.taxtmi.com/caselaws?id=325790 The Court ruled in favor of the Assessee in a case challenging the reopening of assessment for AY 2007-08 under Section 148 of the Income Tax Act. The Court found that the Assessee had disclosed all material facts regarding loans advanced and share capital received, rendering the reasons for reopening invalid. The Court emphasized the necessity of tangible material to support reopening assessments and concluded that the jurisdictional requirements were not met. As a result, the notice and order were quashed, and the writ petition was allowed. en-us Thu, 17 Mar 2016 00:00:00 +0530 Tue, 29 Mar 2016 10:46:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325790 The Court ruled in favor of the Assessee in a case challenging the reopening of assessment for AY 2007-08 under Section 148 of the Income Tax Act. The Court found that the Assessee had disclosed all material facts regarding loans advanced and share capital received, rendering the reasons for reopening invalid. The Court emphasized the necessity of tangible material to support reopening assessments and concluded that the jurisdictional requirements were not met. As a result, the notice and order were quashed, and the writ petition was allowed. Case-Laws Income Tax Thu, 17 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325790