https://www.taxtmi.com/caselaws?id=355253 The High Court set aside the notice of reopening issued by the Assessing Officer for the assessment year 2010-11, as the reasons provided for reopening the assessment based on short term capital gain on the sale of land were deemed insufficient. The Court emphasized the necessity of a valid reason to believe that income chargeable to tax had escaped assessment, even in cases without prior scrutiny assessment. The petition challenging the notice was disposed of in favor of the petitioner. en-us Tue, 06 Feb 2018 00:00:00 +0530 Mon, 12 Feb 2018 07:36:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355253 The High Court set aside the notice of reopening issued by the Assessing Officer for the assessment year 2010-11, as the reasons provided for reopening the assessment based on short term capital gain on the sale of land were deemed insufficient. The Court emphasized the necessity of a valid reason to believe that income chargeable to tax had escaped assessment, even in cases without prior scrutiny assessment. The petition challenging the notice was disposed of in favor of the petitioner. Case-Laws Income Tax Tue, 06 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355253