https://www.taxtmi.com/caselaws?id=422368 The court quashed the notice under Section 148 and the reassessment order under Section 147 read with Sections 144 and 144B of the Income Tax Act, 1961. It found the "reasons to believe" recorded by the Assessing Authority to be unfounded and lacking factual basis, rendering both actions invalid and without jurisdiction. The court highlighted the arbitrary and unauthorized exercise of powers by the Income Tax Authorities and emphasized the need for fair and reasonable application of powers under the Act. en-us Fri, 06 May 2022 00:00:00 +0530 Thu, 21 May 2026 15:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422368 The court quashed the notice under Section 148 and the reassessment order under Section 147 read with Sections 144 and 144B of the Income Tax Act, 1961. It found the "reasons to believe" recorded by the Assessing Authority to be unfounded and lacking factual basis, rendering both actions invalid and without jurisdiction. The court highlighted the arbitrary and unauthorized exercise of powers by the Income Tax Authorities and emphasized the need for fair and reasonable application of powers under the Act. Case-Laws Income Tax Fri, 06 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422368