https://www.taxtmi.com/caselaws?id=355797 The court quashed the notice seeking to reopen the assessment for the assessment year 2010-11, which was based on the non-disclosure of capital gain from the transfer of shares without consideration. The court emphasized that there was no valid reason to believe that income had escaped assessment, citing specific provisions under the Income Tax Act. By comparing with a previous judgment, the court concluded that the reasons given by the Assessing Officer were invalid, leading to the decision in favor of the petitioner and setting aside the notice. en-us Wed, 14 Feb 2018 00:00:00 +0530 Mon, 19 Feb 2018 08:44:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355797 The court quashed the notice seeking to reopen the assessment for the assessment year 2010-11, which was based on the non-disclosure of capital gain from the transfer of shares without consideration. The court emphasized that there was no valid reason to believe that income had escaped assessment, citing specific provisions under the Income Tax Act. By comparing with a previous judgment, the court concluded that the reasons given by the Assessing Officer were invalid, leading to the decision in favor of the petitioner and setting aside the notice. Case-Laws Income Tax Wed, 14 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355797