https://www.taxtmi.com/caselaws?id=354828 Reassessment under section 147 was invalid because the reasons for reopening were founded on the same material already disclosed by the assessee in the computation of income and audit report, with no fresh or tangible material showing escapement of income. The requirement of a reason to believe must rest on a live link between material and belief, and that standard is not relaxed merely because the original return was processed under section 143(1). The reopening was therefore without jurisdiction, and the reassessment was cancelled in favour of the assessee. en-us Thu, 21 Dec 2017 00:00:00 +0530 Mon, 05 Feb 2018 09:02:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354828 Reassessment under section 147 was invalid because the reasons for reopening were founded on the same material already disclosed by the assessee in the computation of income and audit report, with no fresh or tangible material showing escapement of income. The requirement of a reason to believe must rest on a live link between material and belief, and that standard is not relaxed merely because the original return was processed under section 143(1). The reopening was therefore without jurisdiction, and the reassessment was cancelled in favour of the assessee. Case-Laws Income Tax Thu, 21 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354828