https://www.taxtmi.com/caselaws?id=363646 The Court found that the Assistant Commissioner of Income Tax erred in rejecting the petitioners' application for reasons to believe under Section 147 of the Income Tax Act without providing the reasons. Citing legal precedents, the Court emphasized the necessity of furnishing reasons for reopening assessments in a timely manner. Consequently, the rebuttal order was quashed, and the Assessing Officer was directed to provide reasons within six weeks. The petitioners were granted the opportunity to file objections, which the Assessing Officer must address in a speaking order within a reasonable time. Each party was to bear their own costs in this matter. en-us Tue, 10 Jul 2018 00:00:00 +0530 Mon, 16 Jul 2018 08:09:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=363646 The Court found that the Assistant Commissioner of Income Tax erred in rejecting the petitioners' application for reasons to believe under Section 147 of the Income Tax Act without providing the reasons. Citing legal precedents, the Court emphasized the necessity of furnishing reasons for reopening assessments in a timely manner. Consequently, the rebuttal order was quashed, and the Assessing Officer was directed to provide reasons within six weeks. The petitioners were granted the opportunity to file objections, which the Assessing Officer must address in a speaking order within a reasonable time. Each party was to bear their own costs in this matter. Case-Laws Income Tax Tue, 10 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=363646