https://www.taxtmi.com/caselaws?id=365962 The court set aside the notice to reopen the assessment for the assessment year 2010-2011, finding the reasons provided by the Assessing Officer lacked validity and were based on impermissible assumptions. The court emphasized the need for a tangible link connecting the undisclosed funds to the petitioner company and criticized the shifting of the burden of proof onto the assessee. Additionally, the court highlighted the impermissibility of double taxation on the same income previously disclosed under the Income Declaration Scheme 2016. The petition was allowed, preventing the reopening of the assessment. en-us Tue, 14 Aug 2018 00:00:00 +0530 Mon, 27 Aug 2018 17:59:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365962 The court set aside the notice to reopen the assessment for the assessment year 2010-2011, finding the reasons provided by the Assessing Officer lacked validity and were based on impermissible assumptions. The court emphasized the need for a tangible link connecting the undisclosed funds to the petitioner company and criticized the shifting of the burden of proof onto the assessee. Additionally, the court highlighted the impermissibility of double taxation on the same income previously disclosed under the Income Declaration Scheme 2016. The petition was allowed, preventing the reopening of the assessment. Case-Laws Income Tax Tue, 14 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365962