https://www.taxtmi.com/caselaws?id=338181 The High Court examined the validity of reopening the assessment for AY 2005-2006 under Section 147 of the Income-tax Act. The petitioner challenged the Notice, alleging no income had escaped assessment. The Court noted the original assessment was thorough, and the new Notice was based on assumptions from a later year. The Court ruled that reopening without concrete evidence was impermissible. The impugned Notice was quashed, favoring the petitioner. en-us Wed, 18 Jan 2017 00:00:00 +0530 Wed, 15 Mar 2017 12:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338181 The High Court examined the validity of reopening the assessment for AY 2005-2006 under Section 147 of the Income-tax Act. The petitioner challenged the Notice, alleging no income had escaped assessment. The Court noted the original assessment was thorough, and the new Notice was based on assumptions from a later year. The Court ruled that reopening without concrete evidence was impermissible. The impugned Notice was quashed, favoring the petitioner. Case-Laws Income Tax Wed, 18 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338181