https://www.taxtmi.com/caselaws?id=342001 The court quashed and set aside the notice issued under Section 148 of the Income Tax Act, 1961, for the Assessment Year 2009-2010. The reassessment proceedings were deemed unsustainable due to the lack of tangible material to support the belief that income had escaped assessment and the failure to address specific objections raised by the assessee. The court emphasized the necessity of clear evidence of failure to disclose material facts for reopening assessments beyond four years, which was absent in this case. As a result, the petition succeeded, and the reassessment proceedings were invalidated. en-us Mon, 17 Apr 2017 00:00:00 +0530 Sat, 22 Apr 2017 06:54:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342001 The court quashed and set aside the notice issued under Section 148 of the Income Tax Act, 1961, for the Assessment Year 2009-2010. The reassessment proceedings were deemed unsustainable due to the lack of tangible material to support the belief that income had escaped assessment and the failure to address specific objections raised by the assessee. The court emphasized the necessity of clear evidence of failure to disclose material facts for reopening assessments beyond four years, which was absent in this case. As a result, the petition succeeded, and the reassessment proceedings were invalidated. Case-Laws Income Tax Mon, 17 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342001