https://www.taxtmi.com/caselaws?id=289934 The Tribunal found that the Assessing Officer lacked sufficient grounds to reopen the assessment solely based on received information without independent verification. The Tribunal emphasized that reopening an assessment must be supported by a reason to believe income has escaped assessment, not mere suspicion. Citing precedents, the Tribunal held that the notice issued under section 148 was unlawful, leading to the setting aside of the assessment order. Consequently, the appeal was allowed, and the assessment order was quashed on 26.04.2019 without delving into the merits of the case. en-us Fri, 26 Apr 2019 00:00:00 +0530 Mon, 31 Aug 2020 12:25:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289934 The Tribunal found that the Assessing Officer lacked sufficient grounds to reopen the assessment solely based on received information without independent verification. The Tribunal emphasized that reopening an assessment must be supported by a reason to believe income has escaped assessment, not mere suspicion. Citing precedents, the Tribunal held that the notice issued under section 148 was unlawful, leading to the setting aside of the assessment order. Consequently, the appeal was allowed, and the assessment order was quashed on 26.04.2019 without delving into the merits of the case. Case-Laws Income Tax Fri, 26 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289934