https://www.taxtmi.com/caselaws?id=384221 The Court dismissed the writ petitions challenging the reopening of assessments for AY 2008-09 and 2009-10 under Sections 147/148 of the Income Tax Act, 1961. Notices were issued based on a report suggesting overvaluation of shares, leading to income escaping assessment. The Court upheld the validity of reasons to believe and found no change of opinion in the reassessment. The Investigation Wing's report was deemed tangible material for reopening assessments. The Court allowed reassessment proceedings to continue, permitting arguments except on the point of change of opinion. en-us Tue, 06 Aug 2019 00:00:00 +0530 Wed, 13 May 2026 15:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384221 The Court dismissed the writ petitions challenging the reopening of assessments for AY 2008-09 and 2009-10 under Sections 147/148 of the Income Tax Act, 1961. Notices were issued based on a report suggesting overvaluation of shares, leading to income escaping assessment. The Court upheld the validity of reasons to believe and found no change of opinion in the reassessment. The Investigation Wing's report was deemed tangible material for reopening assessments. The Court allowed reassessment proceedings to continue, permitting arguments except on the point of change of opinion. Case-Laws Income Tax Tue, 06 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384221