https://www.taxtmi.com/caselaws?id=407445 The court upheld the validity of the sanction under Section 151 of the Income Tax Act, finding that the necessary approval was obtained. It determined that the reasons for reopening the assessment were accurate, based on independent inquiries, and not borrowed satisfaction. The court held that there was a valid "reason to believe" that income had escaped assessment, supported by a live nexus between the information received and the material gathered. Reopening for proving or fishing inquiry without specific findings was deemed permissible. The court dismissed the writ application, affirming the justification for reopening the assessment within the authority of the law. en-us Mon, 15 Mar 2021 00:00:00 +0530 Tue, 11 May 2021 08:37:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407445 The court upheld the validity of the sanction under Section 151 of the Income Tax Act, finding that the necessary approval was obtained. It determined that the reasons for reopening the assessment were accurate, based on independent inquiries, and not borrowed satisfaction. The court held that there was a valid "reason to believe" that income had escaped assessment, supported by a live nexus between the information received and the material gathered. Reopening for proving or fishing inquiry without specific findings was deemed permissible. The court dismissed the writ application, affirming the justification for reopening the assessment within the authority of the law. Case-Laws Income Tax Mon, 15 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407445