https://www.taxtmi.com/caselaws?id=376313 The court quashed the notice of reopening the assessment under Section 147 of the Income Tax Act for the assessment year 2013-14. The Assessing Officer's attempt to tax a loan as deemed dividend under Section 2(22)(e) was deemed unjustified as the issue was already examined during the original assessment. The court emphasized that the decision to reopen the assessment must be based on the Assessing Officer's independent belief and not influenced by the audit party. Consequently, the petition was allowed, and the notice was quashed. en-us Fri, 01 Mar 2019 00:00:00 +0530 Wed, 06 Mar 2019 15:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376313 The court quashed the notice of reopening the assessment under Section 147 of the Income Tax Act for the assessment year 2013-14. The Assessing Officer's attempt to tax a loan as deemed dividend under Section 2(22)(e) was deemed unjustified as the issue was already examined during the original assessment. The court emphasized that the decision to reopen the assessment must be based on the Assessing Officer's independent belief and not influenced by the audit party. Consequently, the petition was allowed, and the notice was quashed. Case-Laws Income Tax Fri, 01 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376313