https://www.taxtmi.com/caselaws?id=303790 Reassessment under section 147 requires recorded reasons based on relevant material with a live nexus to the belief that income has escaped assessment. The recorded reasons here were invalid because they incorrectly attributed the complaint to the assessee, when it was made by the assessee's daughter, and relied on a section 161 CrPC statement that was neither on oath nor tested by cross-examination or independent corroboration. On that material, the belief was treated as suspicion rather than legally sufficient grounds, showing lack of application of mind and absence of jurisdiction to reopen; the reopening was therefore invalid and the reassessment was quashed. en-us Thu, 19 May 2016 00:00:00 +0530 Sat, 13 Aug 2022 08:07:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303790 Reassessment under section 147 requires recorded reasons based on relevant material with a live nexus to the belief that income has escaped assessment. The recorded reasons here were invalid because they incorrectly attributed the complaint to the assessee, when it was made by the assessee's daughter, and relied on a section 161 CrPC statement that was neither on oath nor tested by cross-examination or independent corroboration. On that material, the belief was treated as suspicion rather than legally sufficient grounds, showing lack of application of mind and absence of jurisdiction to reopen; the reopening was therefore invalid and the reassessment was quashed. Case-Laws Income Tax Thu, 19 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303790