https://www.taxtmi.com/caselaws?id=9996 A Departmental Valuer's report obtained after the original assessment was treated as only expert opinion on a technical matter and not conclusive material for reopening under sections 147 and 148 of the Income-tax Act, 1961. Reassessment requires the Assessing Officer to have reason to believe that income has escaped assessment, supported by material stronger than mere suspicion or doubt; that threshold was not met on the material shown. The record also did not demonstrate compliance with the statutory requirement to record reasons under section 148(2), so the reassessment could not be sustained. en-us Wed, 20 Sep 2006 00:00:00 +0530 Sat, 04 Jul 2009 19:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9996 A Departmental Valuer's report obtained after the original assessment was treated as only expert opinion on a technical matter and not conclusive material for reopening under sections 147 and 148 of the Income-tax Act, 1961. Reassessment requires the Assessing Officer to have reason to believe that income has escaped assessment, supported by material stronger than mere suspicion or doubt; that threshold was not met on the material shown. The record also did not demonstrate compliance with the statutory requirement to record reasons under section 148(2), so the reassessment could not be sustained. Case-Laws Income Tax Wed, 20 Sep 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9996