https://www.taxtmi.com/caselaws?id=420380 The Supreme Court allowed the revenue's appeal against the High Court's decision, upholding the validity of reopening the assessment for the assessment year 2010-11 under Sections 147/148 of the Income Tax Act. The Court emphasized that the "reasons to believe" must be based on objective materials, not solely on the Income Declaration Scheme (IDS) declaration. The Court clarified that the limited immunity under IDS does not extend to non-declarants. The reassessment was deemed valid, and the revenue was directed to proceed with the reassessment in accordance with the law. en-us Mon, 28 Mar 2022 00:00:00 +0530 Tue, 09 Jun 2026 12:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420380 The Supreme Court allowed the revenue's appeal against the High Court's decision, upholding the validity of reopening the assessment for the assessment year 2010-11 under Sections 147/148 of the Income Tax Act. The Court emphasized that the "reasons to believe" must be based on objective materials, not solely on the Income Declaration Scheme (IDS) declaration. The Court clarified that the limited immunity under IDS does not extend to non-declarants. The reassessment was deemed valid, and the revenue was directed to proceed with the reassessment in accordance with the law. Case-Laws Income Tax Mon, 28 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420380