https://www.taxtmi.com/caselaws?id=330446 The court quashed the notice issued under Section 148 of the Income Tax Act, 1961, for reopening the assessment, as it was found to lack authority of law. The court determined that the reasons recorded for reopening did not establish that income had escaped assessment, and the Assessing Officer did not have sufficient material to support the belief of income escapement. The court rejected the argument of a mere change of opinion and ruled in favor of the petitioner, holding the reopening unjustified. en-us Wed, 30 Mar 2016 00:00:00 +0530 Tue, 26 Jul 2016 11:50:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330446 The court quashed the notice issued under Section 148 of the Income Tax Act, 1961, for reopening the assessment, as it was found to lack authority of law. The court determined that the reasons recorded for reopening did not establish that income had escaped assessment, and the Assessing Officer did not have sufficient material to support the belief of income escapement. The court rejected the argument of a mere change of opinion and ruled in favor of the petitioner, holding the reopening unjustified. Case-Laws Income Tax Wed, 30 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330446