https://www.taxtmi.com/caselaws?id=411340 The court dismissed the petition challenging the notice under Section 148 of the Income Tax Act, 1961, for the Assessment Year 2013-14. The court held that the notice was valid as it was issued based on substantial new material, proper application of mind by the Assessing Officer, and sufficient tangible material justifying the reopening. The court found that the reasons for reopening were supported by detailed and credible information, indicating a rational belief of income escapement. Additionally, all procedural requirements, including necessary approvals under Section 151, were duly followed, leading to the dismissal of the petition. en-us Thu, 19 Aug 2021 00:00:00 +0530 Tue, 16 Nov 2021 16:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411340 The court dismissed the petition challenging the notice under Section 148 of the Income Tax Act, 1961, for the Assessment Year 2013-14. The court held that the notice was valid as it was issued based on substantial new material, proper application of mind by the Assessing Officer, and sufficient tangible material justifying the reopening. The court found that the reasons for reopening were supported by detailed and credible information, indicating a rational belief of income escapement. Additionally, all procedural requirements, including necessary approvals under Section 151, were duly followed, leading to the dismissal of the petition. Case-Laws Income Tax Thu, 19 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411340