https://www.taxtmi.com/caselaws?id=19962 The High Court of Gujarat upheld the Income-tax Appellate Tribunal's decision that the reassessment initiated by the Income-tax Officer under section 147(b) of the Income-tax Act lacked jurisdiction due to the absence of recorded reasons for reopening the assessment. The Court emphasized that the Officer must have relevant information to believe that taxable income had escaped assessment and must document reasons for reassessment as required by law. The Tribunal's findings were deemed legally sound, resulting in a ruling in favor of the assessee with no costs awarded. en-us Tue, 24 Aug 1993 00:00:00 +0530 Tue, 10 Nov 2009 18:15:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19962 The High Court of Gujarat upheld the Income-tax Appellate Tribunal's decision that the reassessment initiated by the Income-tax Officer under section 147(b) of the Income-tax Act lacked jurisdiction due to the absence of recorded reasons for reopening the assessment. The Court emphasized that the Officer must have relevant information to believe that taxable income had escaped assessment and must document reasons for reassessment as required by law. The Tribunal's findings were deemed legally sound, resulting in a ruling in favor of the assessee with no costs awarded. Case-Laws Income Tax Tue, 24 Aug 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19962