https://www.taxtmi.com/caselaws?id=328672 The court ruled in favor of the petitioner, quashing the notice issued under section 148 of the Income Tax Act, 1961. The court found that there was no new tangible material to justify the reopening of the assessment and that the proposed addition would not impact the tax liability under section 115JB. The decision was based on the lack of sufficient material for the Assessing Officer to believe that income chargeable to tax had escaped assessment, leading to the petition being allowed and the notice being set aside. en-us Fri, 06 May 2016 00:00:00 +0530 Mon, 15 Jun 2026 15:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328672 The court ruled in favor of the petitioner, quashing the notice issued under section 148 of the Income Tax Act, 1961. The court found that there was no new tangible material to justify the reopening of the assessment and that the proposed addition would not impact the tax liability under section 115JB. The decision was based on the lack of sufficient material for the Assessing Officer to believe that income chargeable to tax had escaped assessment, leading to the petition being allowed and the notice being set aside. Case-Laws Income Tax Fri, 06 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328672