https://www.taxtmi.com/caselaws?id=345850 The court held that the re-opening of the assessment under Section 148 of the Income Tax Act, 1961, for AY 2003-04 was not valid as the Assessing Officer (AO) lacked tangible material to support the belief that income had escaped assessment. The court found that the reasons provided by the AO were either based on a mere change of opinion or lacked sufficient evidence of the Assessee's failure to disclose material facts fully and truly. Consequently, the court allowed the writ petition, quashing the notice and the order for re-opening the assessment. en-us Thu, 20 Jul 2017 00:00:00 +0530 Mon, 13 Nov 2017 18:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345850 The court held that the re-opening of the assessment under Section 148 of the Income Tax Act, 1961, for AY 2003-04 was not valid as the Assessing Officer (AO) lacked tangible material to support the belief that income had escaped assessment. The court found that the reasons provided by the AO were either based on a mere change of opinion or lacked sufficient evidence of the Assessee's failure to disclose material facts fully and truly. Consequently, the court allowed the writ petition, quashing the notice and the order for re-opening the assessment. Case-Laws Income Tax Thu, 20 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345850