https://www.taxtmi.com/caselaws?id=26844 Reassessment notices under sections 147 and 148 of the Income-tax Act were held invalid because the assessing authority did not disclose the reasons for reopening and failed to show a legally sustainable basis for forming the requisite belief that income had escaped assessment. A suggested ground relating to interest income and a loan from the assessee's minor son was insufficient, particularly where the authority could have verified the position from the completed assessment and other available material before reopening. The notices were therefore quashed as an unlawful exercise of reassessment power. en-us Wed, 17 Jul 1985 00:00:00 +0530 Mon, 08 Feb 2010 18:16:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26844 Reassessment notices under sections 147 and 148 of the Income-tax Act were held invalid because the assessing authority did not disclose the reasons for reopening and failed to show a legally sustainable basis for forming the requisite belief that income had escaped assessment. A suggested ground relating to interest income and a loan from the assessee's minor son was insufficient, particularly where the authority could have verified the position from the completed assessment and other available material before reopening. The notices were therefore quashed as an unlawful exercise of reassessment power. Case-Laws Income Tax Wed, 17 Jul 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26844