https://www.taxtmi.com/caselaws?id=417796 The High Court quashed the impugned notice and order under the Income Tax Act, 1961, as the reasons for reopening the assessment did not establish a failure to disclose material facts. The Court emphasized the necessity of a clear indication of non-disclosure in the reasons supplied and criticized the Assessing Officer's reliance on external sources without independent verification. Breaches of guidelines and principles of natural justice were also noted, leading to the Court allowing the petition due to the lack of justification for the reopening and procedural irregularities during the assessment process. en-us Tue, 25 Jan 2022 00:00:00 +0530 Mon, 10 Oct 2022 10:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417796 The High Court quashed the impugned notice and order under the Income Tax Act, 1961, as the reasons for reopening the assessment did not establish a failure to disclose material facts. The Court emphasized the necessity of a clear indication of non-disclosure in the reasons supplied and criticized the Assessing Officer's reliance on external sources without independent verification. Breaches of guidelines and principles of natural justice were also noted, leading to the Court allowing the petition due to the lack of justification for the reopening and procedural irregularities during the assessment process. Case-Laws Income Tax Tue, 25 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417796