https://www.taxtmi.com/caselaws?id=326143 The Court upheld the validity of a Notice issued under Section 148 of the Income Tax Act, 1961, for reopening the assessment for the assessment year 2011-12. The Court found that the Assessing Officer had sufficient grounds to form a reasonable belief that claimed expenses were non-genuine and income had escaped assessment. Emphasizing that the reasons recorded are meant to establish a belief, the Court dismissed the Petition, allowing the Petitioner to challenge the reasons before the relevant authority under the Act. The Court declined to intervene further, leaving all contentions open for future challenges. en-us Wed, 23 Mar 2016 00:00:00 +0530 Wed, 06 Apr 2016 12:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326143 The Court upheld the validity of a Notice issued under Section 148 of the Income Tax Act, 1961, for reopening the assessment for the assessment year 2011-12. The Court found that the Assessing Officer had sufficient grounds to form a reasonable belief that claimed expenses were non-genuine and income had escaped assessment. Emphasizing that the reasons recorded are meant to establish a belief, the Court dismissed the Petition, allowing the Petitioner to challenge the reasons before the relevant authority under the Act. The Court declined to intervene further, leaving all contentions open for future challenges. Case-Laws Income Tax Wed, 23 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326143