https://www.taxtmi.com/caselaws?id=330889 The court set aside the notice for reopening the assessment for AY 2011-2012, as there was insufficient evidence that income chargeable to tax had escaped assessment. The Assessing Officer's grounds for reopening, including speculative loss, incorrect tax deduction, and alleged bogus sales, were challenged by the petitioner. The court considered the petitioner's objections, previous examination by the Commissioner, and detailed responses provided during assessment proceedings. Ultimately, the court ruled in favor of the petitioner, leading to the disposal of the petition. en-us Tue, 02 Aug 2016 00:00:00 +0530 Mon, 08 Aug 2016 13:52:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330889 The court set aside the notice for reopening the assessment for AY 2011-2012, as there was insufficient evidence that income chargeable to tax had escaped assessment. The Assessing Officer's grounds for reopening, including speculative loss, incorrect tax deduction, and alleged bogus sales, were challenged by the petitioner. The court considered the petitioner's objections, previous examination by the Commissioner, and detailed responses provided during assessment proceedings. Ultimately, the court ruled in favor of the petitioner, leading to the disposal of the petition. Case-Laws Income Tax Tue, 02 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330889