https://www.taxtmi.com/caselaws?id=295763 The court invalidated the notice of reopening of assessment for the assessment year 2011-12 due to lack of evidence supporting the alleged undisclosed income transactions. The court found the reasons provided by the Assessing Officer to be erroneous and unsubstantiated, leading to the quashing of the notice. The petitioner's objections were upheld, emphasizing that when the sole basis for reopening an assessment is incorrect information, the notice must be deemed invalid. Consequently, the court ruled in favor of the petitioner, disposing of the petition in their favor. en-us Tue, 27 Feb 2018 00:00:00 +0530 Sat, 19 Jun 2021 10:17:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295763 The court invalidated the notice of reopening of assessment for the assessment year 2011-12 due to lack of evidence supporting the alleged undisclosed income transactions. The court found the reasons provided by the Assessing Officer to be erroneous and unsubstantiated, leading to the quashing of the notice. The petitioner's objections were upheld, emphasizing that when the sole basis for reopening an assessment is incorrect information, the notice must be deemed invalid. Consequently, the court ruled in favor of the petitioner, disposing of the petition in their favor. Case-Laws Income Tax Tue, 27 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295763