https://www.taxtmi.com/caselaws?id=378392 The High Court ruled in favor of the petitioner, quashing the notice under section 148 of the Income Tax Act, 1961, for reopening the assessment for the assessment year 2011-12. The Court found that the reasons provided for reopening lacked proper basis and amounted to a fishing inquiry. It was determined that the petitioner had disclosed all material facts during the original assessment proceedings, and the discrepancies highlighted by the Assessing Officer were unfounded. Consequently, the petition was allowed with no order as to costs. en-us Mon, 25 Mar 2019 00:00:00 +0530 Fri, 12 Apr 2019 12:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378392 The High Court ruled in favor of the petitioner, quashing the notice under section 148 of the Income Tax Act, 1961, for reopening the assessment for the assessment year 2011-12. The Court found that the reasons provided for reopening lacked proper basis and amounted to a fishing inquiry. It was determined that the petitioner had disclosed all material facts during the original assessment proceedings, and the discrepancies highlighted by the Assessing Officer were unfounded. Consequently, the petition was allowed with no order as to costs. Case-Laws Income Tax Mon, 25 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378392