https://www.taxtmi.com/caselaws?id=372574 The Court dismissed the appeal, upholding the Tribunal's decision that the reopening lacked a valid basis and was without jurisdiction. The judgment emphasized the necessity of a rational connection between reasons to believe income had escaped assessment and available material, highlighting the importance of substantive grounds for reassessment. The Court reiterated that reopening assessments cannot be founded on vague suspicions, emphasizing the need for a valid reason to believe income had escaped assessment. en-us Tue, 18 Dec 2018 00:00:00 +0530 Tue, 25 Dec 2018 08:25:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372574 The Court dismissed the appeal, upholding the Tribunal's decision that the reopening lacked a valid basis and was without jurisdiction. The judgment emphasized the necessity of a rational connection between reasons to believe income had escaped assessment and available material, highlighting the importance of substantive grounds for reassessment. The Court reiterated that reopening assessments cannot be founded on vague suspicions, emphasizing the need for a valid reason to believe income had escaped assessment. Case-Laws Income Tax Tue, 18 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372574