https://www.taxtmi.com/caselaws?id=354871 Reassessment under section 147 requires fresh or tangible material giving a live link to a belief that income has escaped assessment. Where the assessee had already disclosed the relevant receipts in the return computation and audit report, and the recorded reasons were substantially identical to those considered in earlier years and connected cases, there was no valid basis for reopening. The fact that the original return was processed under section 143(1) did not remove the need for such material. The reopening was therefore held invalid and the reassessment proceedings were quashed. en-us Tue, 23 Jan 2018 00:00:00 +0530 Mon, 05 Feb 2018 10:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354871 Reassessment under section 147 requires fresh or tangible material giving a live link to a belief that income has escaped assessment. Where the assessee had already disclosed the relevant receipts in the return computation and audit report, and the recorded reasons were substantially identical to those considered in earlier years and connected cases, there was no valid basis for reopening. The fact that the original return was processed under section 143(1) did not remove the need for such material. The reopening was therefore held invalid and the reassessment proceedings were quashed. Case-Laws Income Tax Tue, 23 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354871