https://www.taxtmi.com/caselaws?id=412837 The High Court set aside the order challenging the notice under Section 148 of the Income Tax Act for reopening assessment. The court emphasized the need for a detailed examination of whether the grounds for reopening were based on new material and if there was a valid sale transaction involved. The case was restored to be heard and decided on its merits by the Single Judge, as critical aspects were not addressed. The importance of thorough examination before deciding on the validity of the assessment reopening was highlighted. en-us Fri, 03 Sep 2021 00:00:00 +0530 Tue, 28 Sep 2021 06:59:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412837 The High Court set aside the order challenging the notice under Section 148 of the Income Tax Act for reopening assessment. The court emphasized the need for a detailed examination of whether the grounds for reopening were based on new material and if there was a valid sale transaction involved. The case was restored to be heard and decided on its merits by the Single Judge, as critical aspects were not addressed. The importance of thorough examination before deciding on the validity of the assessment reopening was highlighted. Case-Laws Income Tax Fri, 03 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412837