https://www.taxtmi.com/caselaws?id=341798 The Andhra Pradesh High Court ruled in favor of the petitioners, retail liquor vendors, in a case concerning the reopening of assessments under Section 147 of the Income Tax Act, 1961. The court held that the Assessing Officers' decision to reopen the assessments solely based on low income percentages without concrete comparables or facts was inadequate. Emphasizing the necessity of concrete facts to support the reopening of assessments, the court highlighted that suspicions and comparisons with others in the same line of business are insufficient grounds for invoking Section 147. The court allowed the writ petitions, emphasizing that jurisdiction under Section 147 cannot be founded on suspicions and presumptions alone, and closed any pending miscellaneous petitions without imposing costs on either party. en-us Mon, 13 Feb 2017 00:00:00 +0530 Tue, 18 Apr 2017 08:59:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341798 The Andhra Pradesh High Court ruled in favor of the petitioners, retail liquor vendors, in a case concerning the reopening of assessments under Section 147 of the Income Tax Act, 1961. The court held that the Assessing Officers' decision to reopen the assessments solely based on low income percentages without concrete comparables or facts was inadequate. Emphasizing the necessity of concrete facts to support the reopening of assessments, the court highlighted that suspicions and comparisons with others in the same line of business are insufficient grounds for invoking Section 147. The court allowed the writ petitions, emphasizing that jurisdiction under Section 147 cannot be founded on suspicions and presumptions alone, and closed any pending miscellaneous petitions without imposing costs on either party. Case-Laws Income Tax Mon, 13 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341798