https://www.taxtmi.com/caselaws?id=421725 The court quashed the notice issued under Section 148 of the Income Tax Act, 1961 for A.Y. 2014-15, citing discrepancies and lack of clarity in the reasons recorded. It emphasized the necessity of a direct link between the material available and the belief formed for income escapement. The objections filed by the petitioner were rejected due to insufficient clarity and nexus between information and belief. The court ruled in favor of the petitioner, setting aside the reopening notice and highlighting the authorities' obligation to provide valid and transparent reasons for reopening assessments. en-us Tue, 29 Mar 2022 00:00:00 +0530 Fri, 17 Jun 2022 11:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421725 The court quashed the notice issued under Section 148 of the Income Tax Act, 1961 for A.Y. 2014-15, citing discrepancies and lack of clarity in the reasons recorded. It emphasized the necessity of a direct link between the material available and the belief formed for income escapement. The objections filed by the petitioner were rejected due to insufficient clarity and nexus between information and belief. The court ruled in favor of the petitioner, setting aside the reopening notice and highlighting the authorities' obligation to provide valid and transparent reasons for reopening assessments. Case-Laws Income Tax Tue, 29 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421725