https://www.taxtmi.com/caselaws?id=17674 Reassessment notices under section 148 were upheld because the recorded reasons were found to be relevant and sufficiently connected to the Assessing Officer's belief that income had escaped assessment, including the exemption claims under sections 10(23A), 10(23C)(iv) and 11. The Court held that it only examines the existence and relevance of reasons, not their sufficiency, and rejected the objection based on alleged mechanical sanction under section 151(2) since the sanctioning authority had endorsed the recorded reasons. It also found no mere change of opinion because the earlier returns had been accepted without a speaking assessment order. en-us Thu, 03 Apr 1997 00:00:00 +0530 Thu, 24 Sep 2009 11:12:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17674 Reassessment notices under section 148 were upheld because the recorded reasons were found to be relevant and sufficiently connected to the Assessing Officer's belief that income had escaped assessment, including the exemption claims under sections 10(23A), 10(23C)(iv) and 11. The Court held that it only examines the existence and relevance of reasons, not their sufficiency, and rejected the objection based on alleged mechanical sanction under section 151(2) since the sanctioning authority had endorsed the recorded reasons. It also found no mere change of opinion because the earlier returns had been accepted without a speaking assessment order. Case-Laws Income Tax Thu, 03 Apr 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17674