https://www.taxtmi.com/caselaws?id=273990 The Appellate Tribunal ITAT Chandigarh allowed the assessee's appeal, quashing the reopening of assessment under section 147 and subsequent notice under section 148. The court held that the Assessing Officer's reasons for reopening lacked merit as mushroom farming was recognized as an agricultural activity by the Ministry of Agriculture. The judgment emphasized the need for tangible material to support the belief of income escapement for invoking section 147, ultimately deeming the reopening of assessment invalid and canceling the assessment proceedings. en-us Tue, 21 Jun 2011 00:00:00 +0530 Mon, 23 Jul 2018 15:15:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273990 The Appellate Tribunal ITAT Chandigarh allowed the assessee's appeal, quashing the reopening of assessment under section 147 and subsequent notice under section 148. The court held that the Assessing Officer's reasons for reopening lacked merit as mushroom farming was recognized as an agricultural activity by the Ministry of Agriculture. The judgment emphasized the need for tangible material to support the belief of income escapement for invoking section 147, ultimately deeming the reopening of assessment invalid and canceling the assessment proceedings. Case-Laws Income Tax Tue, 21 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273990