https://www.taxtmi.com/caselaws?id=360877 The court set aside the notice to reopen the assessment for AY 2010-11 issued by the Assistant Commissioner of Income Tax due to being beyond the prescribed time limit. The Assessing Officer's reasons for reopening based on income discrepancies were found invalid. The petitioner successfully demonstrated errors in the income calculations and clarified misunderstandings regarding income sources. The court ruled in favor of the petitioner, concluding that the reasons provided did not justify the reassessment, leading to the disposal of the petition in favor of the petitioner. en-us Tue, 10 Apr 2018 00:00:00 +0530 Thu, 24 May 2018 08:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360877 The court set aside the notice to reopen the assessment for AY 2010-11 issued by the Assistant Commissioner of Income Tax due to being beyond the prescribed time limit. The Assessing Officer's reasons for reopening based on income discrepancies were found invalid. The petitioner successfully demonstrated errors in the income calculations and clarified misunderstandings regarding income sources. The court ruled in favor of the petitioner, concluding that the reasons provided did not justify the reassessment, leading to the disposal of the petition in favor of the petitioner. Case-Laws Income Tax Tue, 10 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360877