https://www.taxtmi.com/caselaws?id=10146 The court held that the Assessing Officer lacked valid reasons to believe in income suppression by the appellant for the years 1973-74, 1980-81, and 1981-82. The grounds cited were insufficient and lacked a rational connection to income escapement. Consequently, the court allowed all three appeals, declaring the notices issued under section 148 of the Income-tax Act as illegal and invalid. The judgment emphasized the need for the Assessing Officer to exercise power to reopen assessments in good faith and on substantial grounds, not mere suspicion. en-us Fri, 20 Aug 2004 00:00:00 +0530 Wed, 08 Jul 2009 08:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10146 The court held that the Assessing Officer lacked valid reasons to believe in income suppression by the appellant for the years 1973-74, 1980-81, and 1981-82. The grounds cited were insufficient and lacked a rational connection to income escapement. Consequently, the court allowed all three appeals, declaring the notices issued under section 148 of the Income-tax Act as illegal and invalid. The judgment emphasized the need for the Assessing Officer to exercise power to reopen assessments in good faith and on substantial grounds, not mere suspicion. Case-Laws Income Tax Fri, 20 Aug 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10146