https://www.taxtmi.com/caselaws?id=346903 The Court upheld the validity of the notice to reopen assessment for the year 2008-2009 based on new information indicating potential income evasion through alleged bogus purchases. Emphasizing the Assessing Officer's authority to reassess with valid reasons and tangible material supporting income escapement belief, the Court dismissed the petition. The decision highlighted the importance of subjective satisfaction of the Assessing Officer and the sufficiency of relevant material at hand for reassessment, even if not part of the original assessment process. en-us Tue, 22 Aug 2017 00:00:00 +0530 Sat, 02 May 2026 13:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346903 The Court upheld the validity of the notice to reopen assessment for the year 2008-2009 based on new information indicating potential income evasion through alleged bogus purchases. Emphasizing the Assessing Officer's authority to reassess with valid reasons and tangible material supporting income escapement belief, the Court dismissed the petition. The decision highlighted the importance of subjective satisfaction of the Assessing Officer and the sufficiency of relevant material at hand for reassessment, even if not part of the original assessment process. Case-Laws Income Tax Tue, 22 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346903