https://www.taxtmi.com/caselaws?id=337772 The High Court upheld the reopening of assessment for Assessment Year 2010-11 under Section 148 of the Income Tax Act, 1961. The Court found the reasons provided for reopening to be valid, as there was no business activity during the year and the claimed business loss could not be set off against other income. The Assessing Officer had a reasonable belief that income had escaped assessment, supported by the lack of business activity indicated in the filed account notes. The Court emphasized that even if one reason was valid, interference was not warranted, and dismissed the petition. en-us Fri, 23 Dec 2016 00:00:00 +0530 Tue, 17 Jan 2017 08:17:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337772 The High Court upheld the reopening of assessment for Assessment Year 2010-11 under Section 148 of the Income Tax Act, 1961. The Court found the reasons provided for reopening to be valid, as there was no business activity during the year and the claimed business loss could not be set off against other income. The Assessing Officer had a reasonable belief that income had escaped assessment, supported by the lack of business activity indicated in the filed account notes. The Court emphasized that even if one reason was valid, interference was not warranted, and dismissed the petition. Case-Laws Income Tax Fri, 23 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337772