https://www.taxtmi.com/caselaws?id=403611 The court upheld the validity of the notice issued under Section 148 of the Income Tax Act, 1961 for reopening the assessment for the year 2012-2013. It found that the Assessing Officer had sufficient cause to believe that income chargeable to tax had escaped assessment based on specific information received. The court determined that the reasons provided for the reopening of the assessment were adequate and that the objections raised by the assessee were considered and dismissed. Ultimately, the court rejected the writ applications challenging the notice and the reopening of the assessment, emphasizing the judicious exercise of the power to reopen assessments. en-us Thu, 07 Jan 2021 00:00:00 +0530 Wed, 24 Mar 2021 17:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403611 The court upheld the validity of the notice issued under Section 148 of the Income Tax Act, 1961 for reopening the assessment for the year 2012-2013. It found that the Assessing Officer had sufficient cause to believe that income chargeable to tax had escaped assessment based on specific information received. The court determined that the reasons provided for the reopening of the assessment were adequate and that the objections raised by the assessee were considered and dismissed. Ultimately, the court rejected the writ applications challenging the notice and the reopening of the assessment, emphasizing the judicious exercise of the power to reopen assessments. Case-Laws Income Tax Thu, 07 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403611