https://www.taxtmi.com/caselaws?id=418280 The Court found that the reasons supplied for reopening the assessment under Sections 147 and 148 of the Income Tax Act were lacking in material and failed to establish any income escaping assessment. Due to the absence of material facts necessary for assessment, the Court granted the prayer clause (a) and emphasized the importance of providing substantive reasons for reopening assessments. The Court criticized the lack of substance in the reasons recorded for reopening and the non-application of mind in granting approval under Section 151. The petition was disposed of with no order as to costs, underscoring the significance of proper jurisdiction application in assessment proceedings. en-us Tue, 08 Feb 2022 00:00:00 +0530 Fri, 11 Feb 2022 14:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418280 The Court found that the reasons supplied for reopening the assessment under Sections 147 and 148 of the Income Tax Act were lacking in material and failed to establish any income escaping assessment. Due to the absence of material facts necessary for assessment, the Court granted the prayer clause (a) and emphasized the importance of providing substantive reasons for reopening assessments. The Court criticized the lack of substance in the reasons recorded for reopening and the non-application of mind in granting approval under Section 151. The petition was disposed of with no order as to costs, underscoring the significance of proper jurisdiction application in assessment proceedings. Case-Laws Income Tax Tue, 08 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418280