https://www.taxtmi.com/caselaws?id=371362 The court quashed and set aside the notice dated 23.03.2018 to reopen the assessment for the year 2012-13 under section 148 of the Income Tax Act, 1961. It held that the Assessing Officer did not have an independent belief that income had escaped assessment, as the reopening was solely based on audit objections without meeting the requirements of section 147. The judgment emphasized the necessity of the Officer's independent belief for reassessment and ruled in favor of the petitioner, highlighting that audit objections alone cannot justify reopening assessments. en-us Tue, 20 Nov 2018 00:00:00 +0530 Mon, 03 Dec 2018 09:08:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371362 The court quashed and set aside the notice dated 23.03.2018 to reopen the assessment for the year 2012-13 under section 148 of the Income Tax Act, 1961. It held that the Assessing Officer did not have an independent belief that income had escaped assessment, as the reopening was solely based on audit objections without meeting the requirements of section 147. The judgment emphasized the necessity of the Officer's independent belief for reassessment and ruled in favor of the petitioner, highlighting that audit objections alone cannot justify reopening assessments. Case-Laws Income Tax Tue, 20 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371362