https://www.taxtmi.com/caselaws?id=327494 The court found that the reassessment notices issued under Section 148 for reassessment under Section 147 of the Income Tax Act were invalid as they did not comply with the jurisdictional preconditions required under the first proviso to Section 147. The reasons recorded for reopening the assessment did not disclose any material fact that the petitioners failed to fully or truly disclose. Consequently, the court set aside the notices, ruling that there was no basis to believe that any income had escaped assessment. en-us Wed, 04 May 2016 00:00:00 +0530 Fri, 24 Jun 2016 10:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327494 The court found that the reassessment notices issued under Section 148 for reassessment under Section 147 of the Income Tax Act were invalid as they did not comply with the jurisdictional preconditions required under the first proviso to Section 147. The reasons recorded for reopening the assessment did not disclose any material fact that the petitioners failed to fully or truly disclose. Consequently, the court set aside the notices, ruling that there was no basis to believe that any income had escaped assessment. Case-Laws Income Tax Wed, 04 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327494