https://www.taxtmi.com/caselaws?id=297340 The High Court upheld the validity of the reassessment notice under Section 148 of the Income Tax Act, 1961, emphasizing the necessity of "reasons to believe" for initiating reassessment. The court ruled that the reasons provided were sufficient, and compliance with procedural requirements was met. It clarified the distinction between "reasons to believe" and "reasons to suspect," concluding that the reassessment was justified. The writ petition was dismissed, advising the petitioner to seek appellate remedies if dissatisfied, highlighting the limited scope of judicial review and the importance of procedural adherence in reassessment proceedings. en-us Fri, 26 Oct 2018 00:00:00 +0530 Sat, 28 Aug 2021 09:20:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297340 The High Court upheld the validity of the reassessment notice under Section 148 of the Income Tax Act, 1961, emphasizing the necessity of "reasons to believe" for initiating reassessment. The court ruled that the reasons provided were sufficient, and compliance with procedural requirements was met. It clarified the distinction between "reasons to believe" and "reasons to suspect," concluding that the reassessment was justified. The writ petition was dismissed, advising the petitioner to seek appellate remedies if dissatisfied, highlighting the limited scope of judicial review and the importance of procedural adherence in reassessment proceedings. Case-Laws Income Tax Fri, 26 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297340