https://www.taxtmi.com/highlights?id=57291 Reopening of assessment u/s 147 - For mere verification or for a fishing inquiry re-opening of the assessment is not permissible. However, such is not the case on hand. It cannot be said to be a fishing inquiry. There is some tangible material as on date in the hands of the Assessing Officer, and the Assessing Officer, after due application of mind, has recorded a satisfaction of his own that the income has escaped the assessment. - HC en-us Tue, 23 Mar 2021 20:46:16 +0530 Tue, 23 Mar 2021 20:46:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=57291 Reopening of assessment u/s 147 - For mere verification or for a fishing inquiry re-opening of the assessment is not permissible. However, such is not the case on hand. It cannot be said to be a fishing inquiry. There is some tangible material as on date in the hands of the Assessing Officer, and the Assessing Officer, after due application of mind, has recorded a satisfaction of his own that the income has escaped the assessment. - HC Highlights Income Tax Tue, 23 Mar 2021 20:46:16 +0530 https://www.taxtmi.com/highlights?id=57291