https://www.taxtmi.com/caselaws?id=10007 The High Court of BOMBAY allowed all petitions challenging notices issued under section 148 of the Income-tax Act for reopening assessments for multiple years. The court emphasized the requirement of concrete material indicating income escapement and rejected the reopening based on a mere change of opinion without valid grounds. The court found the reasons for reopening assessments lacking substance and insufficient to justify the notices, ultimately setting them aside for all assessment years. en-us Tue, 05 Sep 2006 00:00:00 +0530 Sun, 05 Jul 2009 10:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10007 The High Court of BOMBAY allowed all petitions challenging notices issued under section 148 of the Income-tax Act for reopening assessments for multiple years. The court emphasized the requirement of concrete material indicating income escapement and rejected the reopening based on a mere change of opinion without valid grounds. The court found the reasons for reopening assessments lacking substance and insufficient to justify the notices, ultimately setting them aside for all assessment years. Case-Laws Income Tax Tue, 05 Sep 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10007