https://www.taxtmi.com/caselaws?id=286206 The court upheld the legality of the approval granted under Section 151(1) of the Income Tax Act for issuing notices under Section 148, emphasizing the necessity of valid reasons for reopening assessments. The reasons recorded under Section 148(2) were deemed sufficient, based on new information obtained during a survey. The reassessment was not considered a mere change of opinion but a valid action on fresh facts. As alternative remedies were available, the court dismissed the writ petitions, directing the petitioners to exhaust statutory remedies before seeking relief in court. en-us Fri, 05 Apr 2019 00:00:00 +0530 Mon, 16 Mar 2020 17:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286206 The court upheld the legality of the approval granted under Section 151(1) of the Income Tax Act for issuing notices under Section 148, emphasizing the necessity of valid reasons for reopening assessments. The reasons recorded under Section 148(2) were deemed sufficient, based on new information obtained during a survey. The reassessment was not considered a mere change of opinion but a valid action on fresh facts. As alternative remedies were available, the court dismissed the writ petitions, directing the petitioners to exhaust statutory remedies before seeking relief in court. Case-Laws Income Tax Fri, 05 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286206